and prices have surged sharply, driven by escalating geopolitical tensions and persistent global trade war concerns. Both spot and futures markets have registered fresh lifetime highs today.
In the international markets, Gold spot touched a new all-time high near $5311.68 per ounce, while Silver spot, climbed to a record $116.111 during early European trading hours.
As emphasized consistently in my earlier updates, intraday trading remains the safest and most effective approach in such highly volatile market conditions. Historically, sharp gap up openings followed by lifetime highs often invite profit booking after the European session begins.
Hence, my strategy continues to focus on selling at elevated levels. At current levels, both Gold and Silver are trading in ideal sell zones near their lifetime highs. Given the extreme volatility, strong profit booking is expected within the next few hours. Intraday traders should remain alert and strictly follow risk management.
Intraday Trading Strategy – Gold and Silver Spot Markets
Gold Spot (XAUUSD)
- Sell Zone: $5310 – $5320
- Stop Loss: Open (as per risk management)
- Downside Targets: $5150 – $5125 – $5100
Silver Spot (XAGUSD)
- Sell Zone: $116.100 – $116.400
- Stop Loss: Open (as per risk management)
- Downside Targets: $110 – $109 – $108
Are you ready to capture a potential $150+ move in Gold and $6+ correction in Silver within the next few hours?
Once again, this is a high probability intraday opportunity at lifetime highs. Traders are advised to sell aggressively at elevated levels, as heavy profit booking is likely to unfold shortly. Do not miss this move in the precious metals space.
