Bitcoin Defies Gravity Above $93K Despite Missing Retail FOMO – ETF Inflows Return & Whales Accumulate: Buy the Dip to $100K 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Our initial gold call at $1128/ troy ounce soured after reaching its first target at $1145/troy ounce and final target around $1155/ troy ounce seem quite distant.
Gold's recent down turn has produced an opportunity with better risk-reward and it is going fine with the current fundamentals of commodity rout and demand slowdown in China. Previous call was on the contrary to the fundamentals and was more to do partially technical and risk aversion.
- Current call is fine with fundamentals as demand for gold is very low, thanks to low inflation environment.
- As many central banks' still pursuing ultra-loose monetary policy, gold's risk appeal is unlikely to get its glory back.
Trade idea
- Sell Gold at current price ($1120/troy ounce) with stop around $1150/ troy ounce area and target around $1072 area.
- Two interims targets are $1107/ troy ounce and $1089/troy ounce, where 20% and 35% of profits book is suggested.
