2024-05-31 12:13:49 pm | Source: Kedia Advisory
Buy Gold Aug @ 72000 SL 71750 TGT 72300-72500. MCX -
GOLD
Observations
Gold trading range for the day is 71470-72770.
Gold steadied as a batch of economic data challenged the extent of resilience perceived in the US economy.
Data showed that the US GDP expanded by 1.3% in the first quarter
Initial unemployment claims held above this year’s average to back the slight softening in the labor market
Markets still show a broad consensus that the Fed will only afford one rate cut this year.
BUY GOLD AUG @ 72000 SL 71750 TGT 72300-72500. MCX
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