31-05-2024 12:13 PM | Source: Kedia Advisory
Buy Gold Aug @ 72000 SL 71750 TGT 72300-72500. MCX -

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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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