Buy Gold Aug @ 73100 SL 72900 TGT 73400-73600. MCX - Kedia Advisory
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GOLD
Observations
Gold trading range for the day is 72790-73530.
Gold dropped after US PPI for June comes out at 2.6% year-over-year.
China's central bank refrained from gold purchases to its reserves for a second consecutive month in June, official data showed.
Indian dealers offered a discount of up to $31 an ounce over official domestic prices, versus last week’s discount of $11.
Currently, markets are pricing in a 90% chance of a rate cut in September, which has risen from around 70% earlier.
BUY GOLD AUG @ 73100 SL 72900 TGT 73400-73600. MCX
