Buy Gold Oct 2022 @ 51500 SL 51250 TGT 51850-52000.MCX - Kedia Advisory
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GOLD
* Gold trading range for the day is 51167-52879.
* Gold prices slide as an encouraging U.S. jobs report eased recession worries and raised hopes the Fed will stick to its aggressive tightening path.
* Unemployment rate falls to a pre-pandemic low of 3.5%
* Citi maintains H2 2022 average gold price forecast near $1,740/oz
* Gold premiums in China rose on safe-haven demand driven by rising tensions with the United States over Taiwan
BUY GOLD OCT 2022 @ 51500 SL 51250 TGT 51850-52000.MCX
SILVER
* Silver trading range for the day is 55779-59025.
* Silver dropped amid a combination of a stronger dollar and soaring Treasury yields.
* Fresh jobs data surpassed market expectations in multiple gauges, strengthening bets that the Fed will continue its aggressive hiking momentum
* Putting a floor under prices were lingering concerns about a global economic slowdown and heightened US-China tensions over Taiwan.
* Fed’s Bullard said Fed would be steadfast in raising interest rates to bring inflation, running at four-decade highs, back to the central bank's 2% target
BUY SILVER SEP 2022 @ 57000 SL 56500 TGT 578
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