Buy Gold Aug 2022 @ 50600 SL 50400 TGT 50900-51200.MCX - Kedia Advisory
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GOLD
Gold trading range for the day is 49994-51588.
Gold gains as the dollar and Treasury yields retreated following a large but widely expected interest rate hike announcement from the Federal Reserve.
The Fed delivered a 75 basis point rate increase, the largest since 1994, but indicated that moves of that scale likely wouldn’t become common.
Fed Chair Jerome Powell also said that a 50 or 75 basis point increase “seems most likely” at the next meeting in July
The Swiss National Bank unexpectedly increased interest rates for the first time since 2007.
BUY GOLD AUG 2022 @ 50600 SL 50400 TGT 50900-51200.MCX
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