Bullion report of 29th Jan 2021

Bullion report of 29th Jan 2021

Share

Yesterday US quarter 4 advance GDP was 4% vs 33.4% which was quiet negative impact on US Dollar & extremely positive for Gold.But gold is still unable to cross over its big resistance of 1865$, which indicates to sell again 1865$ parallel MCX also for downside target 1832$, any upside will be only accountable when it cross 1876$+ for target 1904$ only.

Till the time it may remain range  bound with upside move.

Gold

Range: 48650 – 49500

Our Preference: Sell Gold 49500 add on 49700 with SL only above 49800 for the target 48850

Alternative Scenario: Buy Gold 48750+ add on Buy 49600 for target 49150 & 49450 with SL only below 49500

Silver

Range: 71350 – 67500

Our Preference: Buy Silver 67650 for target 69230 with SL only below 67200

Alternative Scenario: Sell Silver 71350 for target 67500 & 65500 with SL only above 71750+

Leave a Comment