Powered by: Motilal Oswal
12-08-2024 09:24 AM | Source: Kedia Advisory
Buy Gold Oct @ 69700 SL 69500 TGT 70000-70200. MCX - Kedia Advisory

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GOLD

Observations

Gold trading range for the day is 69260-70310.

Gold gains as investors grew confident the Fed will lower interest rates in September.

Fed's policymakers are increasingly confident that inflation is cooling enough to allow interest-rate cuts ahead.

Gold demand in India crept up due to a correction in prices, although volatility in the market prompted some buyers to postpone purchases.

Dealers charged a premium of up to $9 an ounce over official domestic prices, compared with last week's $7 premium.

BUY GOLD OCT @ 69700 SL 69500 TGT 70000-70200. MCX

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