Buy Gold FEB @ 62600 SL 62400 TGT 62900-63100. MCX - Kedia Advisory
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GOLD
Observations
Gold trading range for the day is 62365-63155.
Gold prices lost some gains after stronger than expected US economic activity in the third quarter.
The second print of third quarter GDP showed that the economy grew 5.2% between July and September.
Despite the stronger-than-expected data markets see a growing chance that a slowing economy will force the Federal Reserve to cut interest rates.
According to the CME FedWatch Tool, markets see a 45.5% chance or a rate hike in March, up sharply from expectations seen last week
BUY GOLD FEB @ 62600 SL 62400 TGT 62900-63100. MCX
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