Range: 43118 – 44100 ( Its purely today’s report)
Our Preference: Buy Gold near 43250 with Back Up 43118 target 43800 SL below 43090
Alternative Scenario: Sell Gold near 43800+ target 43500 & 43250 with SL 44000+
Why Gold is Remain Down ?
US Donald Trump & others Discuss on Tax Cut in US to save or Boost US economy. If Tax Cut Happens then
Impact: Gold will have downward movement anytime till 60-70$ in COMEX & 1200 point in MCX
MCX Gold we mention to sell from 44900 for 2nd target 43200 we believe it will complete in next 24 hours.
- All Over the world most of countries are trying to save their own economy
1. By reducing interest rate
2. By Give stimulus package
3. By Tax Cut to
Any country have this 3 major push button or Jack pot to boost immediately to save their economy.
- CORONA Virus has drop very negative impact on all over the world & still on
- Many countries has lock down their borders by others who are infected by Virus
- Great Indian Politics: Jyotiraditya Sindhiya has left Congress & Join BJP this will be cause of collapse Congress government & BJP will make government again in MP.
1. Impact: Local & International have more faith in Indian Government which support Nifty & Bank Nifty upside with recent Last low Risk till 10850 – 27500 subsequently & USDINR will get stronger which cause to MCX Gold remain down.
We believe Gold has a space to remain down till 1622$ -next 1605$
MCX 43118 & 42500 till Monday night.
All this down will arrive for Buy point only
As NEXT Week is the FED week which may announce some major decision which will boost GOLD till 1782$ in short notice.
Our Preference: Buy Silver 45500 for target 46500 with SL 45200