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Buy Gold Oct @ 70400 SL 70200 TGT 70750-71000. MCX - Kedia Advisory
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GOLD
Observations
Gold trading range for the day is 69345-71475.
Gold prices rose driven by safe-haven inflows as traders keenly awaited U.S. inflation data.
Fed Bowman softened her usually hawkish tone slightly, noting some further "welcome" progress on inflation in the last couple of months.
Markets are pricing in a 49% chance of a 50 bps rate cut by the Fed in September.
Russia evacuate civilians from parts of a second region near Ukraine after Kyiv increased military activity near the border.
BUY GOLD OCT @ 70400 SL 70200 TGT 70750-71000. MCX
