BULLION REPORT 16 JUNE 2020

BULLION REPORT 16 JUNE 2020

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Latest Update

  • Trump team is getting ready to go with 1$ Trillion inject in infrastructure to push the economy
  • US Federal reserve – they will buy individual corporate bond under secondary market corporate credit facility. To support the all corporate.
  • Impact: This will not increase the demand side of the economy so it will help for the moment only at the end of the day US Equity will go down only & that will be positive for gold to drag it upside. 

Gold

Range: 46551 – 47680
Our Preference: Buy Gold 46550 for target 47550 with SL 46420
Alternative Scenario: Sell Gold 47650 for target 47250 with SL 47780
 
Jobbing Point
47002 Buy @ 1st stroke
46880 Buy starts for the day
46810 Sell below this price for target 46690
47270 sell @ 1st stroke
47550 sell for momentum
47650 Last sell for the day
Yesterday Gold has touch 46546 where 46551 was 50% price of High 47680 & Low 45421. So it bounce back from the same price.

Silver

Range: 46500 – 48240
Our Preference: Buy Silver 46500+ target 48500 with risk of 46000
 
Weekly Trader: We will prefer to Buy silver 46500 with take a back up till 45850 for target 49500 only with risk only below 45800

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