Buy Gold Aug 2022 @ 50000 SL 49800 TGT 50300-50500.MCX - Kedia Advisory
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GOLD
Gold trading range for the day is 49792-50438.
Gold extended losses as the dollar hovers near 20-year highs on expectations the Federal Reserve will continue its aggressive monetary policy path.
Gold also weakened despite escalating recession fears, as investors opted for the safehaven dollar as a hedge against economic uncertainties over the precious metal.
Two of the Fed's most hawkish policymakers said they favoured another 75bps rate hike later this month
The latest data showed that US inflation surged 9.1% in June 2022 from a year ago, hitting its highest level since 1981
BUY GOLD AUG 2022 @ 50000 SL 49800 TGT 50300-50500.MCX
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