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07-03-2023 10:25 AM | Source: Kedia Advisory
Buy Gold Aug 2023 @ 58000 SL 57800 TGT 58300-58500. MCX - Kedia Advisory
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Gold

Observations

Gold trading range for the day is 57590-58620

Gold gains as dollar was slightly lower as investors digest slowing PCE inflation

The Fed's preferred inflation gauge rose 0.3% mom, in line with forecasts and below 0.4% in April.

Fed Powell pledged that interest rates will rise again this year

Physical gold dealers in China charged the heftiest premiums in over three months

 

BUY GOLD Aug 2023 @ 58000 SL 57800 TGT 58300-58500. MCX

 

 

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