Buy Gold Aug @ 73000 SL 72800 TGT 73300-73500. MCX - Kedia Advisory
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Gold
Observations
Gold trading range for the day is 72355-73695.
Gold gains as labor market data supported bets Fed may cut interest rates more than once this year.
Initial unemployment claims unexpectedly jumped to its second-highest level this year in the last week of May.
Interest rate futures showed that investors have a clearer consensus in pricing two rate cuts by the Federal Reserve this year.
Both the ECB and the BoC lowered their interest rates this week to commence their slashing cycles.
BUY GOLD AUG @ 73000 SL 72800 TGT 73300-73500. MCX
