Sell Gold Dec 2022 @ 53200 SL 53400 TGT 52900-52700.MCX - Kedia Advisory
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Gold
Gold trading range for the day is 52810-53326.
Gold rose as the dollar eased, while reports of a tanker being hit by a projectile off the coast of Oman also boosted the safe-haven metal's appeal.
Data showed U.S. producer prices increased less than expected in October, lifting hopes that the U.S. Federal Reserve could slow rate hikes going forward.
Fed’s Bostic warned that he sees little evidence that inflation is easing while signaling that interest rates will have to rise further.
Money markets now pricing an 85% chance of a 50 bps hike in December.
SELL GOLD DEC 2022 @ 53200 SL 53400 TGT 52900-52700.MCX
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