2026-09-01 10:20:53 am | Source: Kedia Advisory
Buy Gold OCT @ 153500 SL 152500 TGT 155000-156000. MCX - Kedia Advisory
Gold
BUY GOLD OCT @ 153500 SL 152500 TGT 155000-156000. MCX
Observations
Gold trading range for the day is 152695-156345.
Gold dropped after Fed Chair Warsh signalled that interest rate hikes may be needed to contain inflation.
Fed will "have work to do" if policymakers don't get the confidence they need that inflation is heading down to 2%, Warsh said.
Markets currently see a 57% chance of a Fed rate hike in September, compared with 36% before Warsh's comments.
Speculators' net long positions in COMEX gold increased by 5,383 contracts, reaching an 11-month high - CFTC
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