2024-06-06 09:07:37 am | Source: Kedia Advisory
Buy Gold AUG @ 72300 SL 72100 TGT 72600-72800. MCX - Kedia Advisory
Gold
Observations
Gold trading range for the day is 71525-73095.
Gold strengthens on the back of a decline in global interest-rate expectations.
Overall weaker growth and cooler inflation in many countries is indicating central banks are about to start cutting interest rates.
Net gold purchases by global central banks increased to 33 metric tons in April from a revised 3 tons in March.
Traders are currently pricing a 65% probability of rate cut in September, per CME FedWatch tool.
BUY GOLD AUG @ 72300 SL 72100 TGT 72600-72800. MCX
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