Daily Bullion Report of 9th Feb 2021

Daily Bullion Report of 9th Feb 2021

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Gold

Range: 48197 – 47411

Our Preference: Sell Gold 48197 for target 47726 & 47411 with SL only above 48400+

Alternative Scenario: Buy Gold 48411+ for target 48822 & 49248 with SL only below 48190.

Momentum: Buy Gold 47650 with SL 47500 for target 48100.

As we have seen Gold just boom up from 46622 = 1787$ to move till 1844.6 = 48100 around by Monday night. On Monday there was a gap up opening into international COMEX Gold + Silver.

COMEX Future Gold has add on premium which is a good sign for upside in Gold.
Silver will touch near 28.14$ & Gold 1851.4$ which is a good resistance for jobbing purpose.

Silver

Range: 68515 – 72500

Our Preference: Buy Silver 69275+  = 27.10 with SL 68700 for target 71289

Alternative Scenario: Sell Silver 71300 = 28.14 with SL 28.55 & 71700 for target 70000.

 

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