Buy Gold Dec @ 76100 SL 75850 TGT 76400-76600. MCX-Kedia Advisory
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Gold
Observations
Gold trading range for the day is 75075-77245.
Gold prices rose on safe-haven demand due to Middle East tensions and lower U.S. bond yields.
Fed Chair Powell suggested the central bank will likely pursue quarter-percentage-point rate cuts moving forward.
Goldman Sachs raised its gold price forecast to $2,900 per ounce from $2,700 per ounce for early 2025.
The odds of another 50-basis-point rate cut in November currently stand at 37%, compared to over 50% the previous week.
BUY GOLD DEC @ 76100 SL 75850 TGT 76400-76600. MCX
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