Buy Gold Dec @ 123500 SL 122600 TGT 124600-125200. MCX - Kedia Advisory
GOLD
BUY GOLD DEC @ 123500 SL 122600 TGT 124600-125200. MCX
Observations
Gold trading range for the day is 122055-124955.
Gold prices dropped as investors awaited more US economic data for clearer signals on the Federal Reserve’s policy outlook.
Attention will mainly be on September's retail sales and PPI figures due on Tuesday, along with weekly jobless claims on Wednesday.
Speculators reduced their net long positions in COMEX gold by 15,384 contracts to 133,927 contracts.
Russian gold reserves at 74.8 mln oz as of Nov 1 vs 74.9 mln oz as of October 1
