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Buy Gold Oct @ 71800 SL 71600 TGT 72100-72300. MCX - Kedia Advisory
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GOLD
Observations
Gold trading range for the day is 71305-72535.
Gold settled flat as inflation data has limited Fed’s ability to cut interest rates aggressively.
US inflation data has limited the Fed’s ability to cut interest rates aggressively despite signs of a cooling labor market.
Data showed the consumer price index rose 2.5% from a year earlier, but excluding volatile food and energy prices it was up 3.2%.
Traders now see just a 15% chance of a bigger half-point rate cut at the Fed's Sept 17-18 policy setting meeting.
BUY GOLD OCT @ 71800 SL 71600 TGT 72100-72300. MCX\
