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15-12-2023 12:06 PM | Source: Kedia Advisory
BUY GOLD FEB @ 62200 SL 62000 TGT 62500-62700. MCX - Kedia Advisory
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GOLD
Gold trading range for the day is 60750-63730.
Gold gains after Fed signalled an end to its tightening cycle and lower borrowing costs in 2024
The Fed is expected to achieve a ‘soft landing’ amid stable labor market projections.
US Consumer spending surprisingly grew by 0.3% while market participants projected a contraction of 0.1.
Markets are now pricing in around an 89% chance of a rate cut in March from the Fed, according to the CME FedWatch tool.
BUY GOLD FEB @ 62200 SL 62000 TGT 62500-62700. MCX
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