20/06/2023 11:57:30 AM | Source: Kedia Advisory
BUY GOLD Aug 2023 @ 59000 SL 58800 TGT 59300-59500. MCX- Kedia Advisory
GOLD
Observations:
Gold trading range for the day is 58960-59470
Gold dropped pressured by hawkish statements from the US Federal Reserve.
Fed decided to keep interest rates unchanged but hinted at further tightening this year
Markets are currently priced for the Fed to raise rates again by 25 basis points in July and stop afterwards.
This week investors await several appearances of Fed officials for more guidance
BUY GOLD Aug 2023 @ 59000 SL 58800 TGT 59300-59500. MCX
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