Buy Gold Jun @ 71650 SL 71450 TGT 71950-72100. MCX - Kedia Advisory
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GOLD
Observations
Gold trading range for the day is 71340-72670.
Gold dropped due to hawkish Fed remarks and speculation that the Fed might delay its easing plans.
However, economic weakness and ongoing geopolitical tensions in the Middle East are expected to support precious metals.
Stronger-than-expected economic data may dampen the hope for a Fed rate cut and exert some selling pressure.
Fed’s Daly highlighted the need for prolonged restrictive policy to achieve the Fed's inflation targets.
BUY GOLD JUN @ 71650 SL 71450 TGT 71950-72100. MCX
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