Buy Gold Feb @ 76900 SL 76700 TGT 77150-77250. MCX - Kedia Advisory
Gold
Observations
Gold trading range for the day is 76625-77615.
Gold remained in range as investor caution set in ahead of the U.S. Federal Reserve's policy meeting.
Investors see Fed lowering rates by 25 bps later in the week
Gold demand should remain strong until the U.S. and global growth puts in a floor, with buying as a hedge against equity downside.
Gold discounts in India widened last week to their highest in over two months.
BUY GOLD FEB @ 76900 SL 76700 TGT 77150-77250. MCX