Buy Gold Feb 2023 @ 53000 SL 52800 TGT 53250-53400.MCX - Kedia Advisory
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Gold
Gold trading range for the day is 52695-53267.
Gold settled flat as the dollar bounced back above 107 mark, as investors reassessed the outlook for monetary policy ahead of remarks from Fed Chair Powell
Markets have been betting that Fed will likely slow the pace of tightening to 50bps in December after delivering four straight 75 basis point increases.
However, recent hawkish remarks from several Fed policymakers, warning about a higher terminal level, brought uncertainty around the rate path.
The latest data showed US GDP growth was revised higher to 2.9% in Q3 from initial estimates of 2.6%.
BUY GOLD FEB 2023 @ 53000 SL 52800 TGT 53250-53400.MCX
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