Bullion Report 4 May 2021

Bullion Report 4 May 2021

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Last week Buy Gold Given 1762$ = 46650 around to match where its short term target complete by 1798$ but MCX could go up till 47450 only. Those who want to continue their Buy can CF their position also for target 47838.

Gold

Range : 47500 – 46750

Our Preference: Buy Gold 46956 = 1772$ for target 47350 with SL 46825

Even If SL hit … Again Buy @ 1762$ = 46650 with SL 46449 for target 47250.

Alternative Scenario: Sell Gold 47450 = 1798$ with SL 47601 for target 46950

Momentum Call: Buy Gold 46950 SL 46850 target 47200

Commentary:
Gold trend is upward which we mention earlier also for Holding purpose. We prefer to Go with only Buy point in MCX where the COMEX Gold price match then active. As in MCX USDINR fluctuate heaviely which impact on MCX very Good.

At the time of 1798.6$ MCX Gold trading at 48429 on 21st April 2021, on 3rd May 2021 COMEX Future 1798.9$ where MCX Gold trading @ 47450. In the Mean time on 21st April 2021 USDINR on top 75.55 , on 3rd May 2021 – 73.85 rs. Where Difference of 1000 Rs has been miss almost which was hedge by USDINR only.

This was the Only reason why we said in last week also to match while Buy gold mcx @1762$ comex futures which turns into profitability every time with High level accurate Enter point with back up of 1756$.

We advise all trader to Match most of trade with COMEX gold future for more accurate profitable trades.
1805$ = 47500+ As it cross will go for short Buy again for 47838 & 1820$

Silver

Range: 71450 – 68500

Our Preference: Sell Silver 71100 add on 71450 SL 71650 for target 68900

Alternative Scenario: Buy 68200+ for target 70000 with SL only below 67800

Comex Future Silver Sell 27.05 SL 27.35 target 26.48, match the same with MCX & take your Domestic MCX trades in Silver to get it more accurate.

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