Sell Silver March 2023 @ 66000 SL 66500 TGT 65400-65000. MCX - Kedia Advisory
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Gold
Obersvations
Gold trading range for the day is 56090-56410
Gold prices settled flat as investors looked out for upcoming U.S. economic data for clues on Fed’s rate hike path.
A sharp retreat in domestic prices boosted retail demand for physical gold in India.
India's Jan gold imports plunge 76% to 32 – month low
China's gold imports in 2022 hit highest level since 2018
SELL GOLD Apr 2023 @ 56400 SL 56600 TGT 56200-56100. MCX
Silver
Obersvations
Silver trading range for the day is 65284-66180
Silver gains amid projections of weak supply limited, as COMEX inventories remained under pressure and LBMA stockpiles plunged
Several Fed officials signalled that more rate hikes were needed to bring inflation down to the central bank's 2% target.
Investor attention will be on the release of the Federal Open Market Committee's January meeting minutes and U.S. GDP data.
Markets expect the Fed funds rate to peak just under 5.3% by July, with analysts seeing the dollar having run its course for now.
SELL SILVER Mar 2023 @ 66000 SL 66500 TGT 65400-65000. MCX
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