Yesterday News

Fed Declare unchanged the interest rate in yesterday FOMC meetings.

• They will continue their Bond Buying, inflation may touch 2.15% in coming time as per economic outlook.
• $1.98T stimulus package is still due to execute by President New Biden.
• All of the above will may keep a pressure on Gold at least for 2 more week.
• Positional Trader should take a Buy call with  back up  of 47551 or 1780$ for the holding position . Rest should go with the flow( Position in new  contract  only after  the  confirmation)

Fundamentals of the day

7.00 PM Advanced GDP Q/Q expected very negative for Dollar & Positive for Bullion
Unemployment Claims

8.30 PM New home sales

Gold (New Contract – 5th April)

Range: 48650 – 49350

Our Preference: Buy Gold 48750 add on 48600 with SL only below 48500 for target 49150

Alternative Scenario: Sell Gold only below 48500 for target 48200 with SL of 120 point

Current Contract of Gold will expire on 29th Jan 2021

Silver

Range: 64702-67500

Our Preference: Buy Silver 64702 for target 66300 with SL 64300

Alternative Scenario: Sell Silver 67500 with SL  67900 for target 65600