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02-08-2024 09:17 AM | Source: Kedia Advisory
Buy Gold Oct @ 69700 SL 69500 TGT 70100-70300. MCX - Kedia Advisory
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Gold 

Observations

Gold trading range for the day is 69290-70820.

Gold gains as expectations solidify that Fed will begin reducinginterest rates in September.

Fed signals potential rate cuts in September, boosting Gold'sappeal

Demand for gold from India could stand between 700 metrictons and 750 metric tons in 2024, the lowest in four years.

Global central banks increased purchases for their reserves by6% to 183 tons in Q2.

BUY GOLD OCT @ 69700 SL 69500 TGT 70100-70300. MCX

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