Buy Gold Oct @ 72000 SL 71800 TGT 72250-72400. MCX - Kedia Advisory
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GOLD
Observation
Gold trading range for the day is 71495-72595.
Gold prices gained, helped by prospects of a U.S. interest rate cut in September and a weaker dollar.
Fed’s Bostic said that with inflation down farther and the unemployment rate up more than he anticipated, it may be "time to move" on rate cuts.
Traders have fully priced in a Fed easing for next month, with a 65.5% chance of a 25-basis-point cut and about 34.5% chance of a bigger 50-bp reduction.
Gross domestic product increased at a 3.0% annualized rate last quarter.
BUY GOLD OCT @ 72000 SL 71800 TGT 72250-72400. MCX
