Sell Silver Mar 2023 @ 65800 SL 66500 TGT 65000-64500. MCX - Kedia Advisory
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Gold
Obersvations
Gold trading range for the day is 55700-56890
Gold fell after a stronger-than-expected US CPI report bolstered expectations the Fed will need to keep pushing interest rates higher
The annual inflation rate in the US slowed slightly to 6.4% in January from 6.5% in December, the lowest since October 2021
Philadelphia Fed Bank President Patrick Harker said the Fed was nearing the point where rates were restrictive enough. Markets now expect the Fed funds rate to peak around 5.26% in July from the current range of 4.5% to 4.75%.
SELL GOLD Apr 2023 @ 56350 SL 56550 TGT 56100-55900. MCX
Silver
Obersvations
Silver trading range for the day is 64616-66490
Silver dropped as the dollar rose in the wake of stubbornly high U.S. inflation data and firm words on interest rates from Fed officials.
Persistent U.S. inflation drives up rate expectations
US CPI inflation accelerated month-on-month in January, rising 0.5% as expected
Retail sales in the US unexpectedly jumped 3% month-over-month in January of 2023, the biggest increase since March of 2021
SELL SILVER Mar 2023 @ 65800 SL 66500 TGT 65000-64500. MCX
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