Sell Gold Apr @ 152200 SL 153200 TGT 150800-149800. MCX - Kedia Advisory
Gold
SELL GOLD APR @ 152200 SL 153200 TGT 150800-149800. MCX
Observations
Gold trading range for the day is 148805-155265.
Gold fell as stronger dollar pressured prices, while investors awaited clarity on U.S.-Iran talks.
US-Iran nuclear talks amid elevated tensions, while negotiations between Russia and Ukraine are also scheduled to begin.
Investors will scrutinise minutes from the Fed's January meeting, due Wednesday, for fresh clues on its rate-cutting path.
Markets expect an interest rate cut in June, as per CME's FedWatch Tool.
Silver
SELL SILVER MAR @ 231000 SL 233500 TGT 228000-226000. MCX
Observations
Silver trading range for the day is 219215-242505.
Silver dropped as liquidity remained subdued amid market holidays in China, Hong Kong and other parts of Asia.
With US markets back open, attention now shifts to the latest minutes from the Fed. Markets are currently pricing in a rate cut in July, with a strong probability of an earlier move in June.
Comex silver speculators raise net long position by 94 contracts to 4,585 in week to February 10 - CFTC
