Buy Gold Aug 2022 @ 50500 SL 50300 TGT 50800-51000.MCX - Kedia Advisory
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GOLD
Gold trading range for the day is 49849-52067.
Gold fell after the dollar strengthened and Treasury yields rose as data showing surging inflation in the U.S. fuelled bets for steeper rate hikes from Fed.
Benchmark U.S. 10-year Treasury yields rose to their highest level since 2018 on Monday, while the dollar hit a one-month high
Meanwhile, the ECB will end asset purchases on July 1st, followed by a 25 bps rate hike.
Gold discounts in India were stretched to their highest level in seven weeks as higher prices repelled demand
BUY GOLD AUG 2022 @ 50500 SL 50300 TGT 50800-51000.MCX
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