Gold trading range for the day is 106485-109745 - Kedia Advisory
Gold
Be Cautious. Important resistance at 109400 while Support at 107600.
Observations
Gold trading range for the day is 106485-109745.
Gold rose past 1,08,000 on MCX hitting a fresh all-time high amid growing bets on a Fed rate cut.
The US economy added fewer jobs than expected in August, while unemployment rose to its highest level since 2021.
China's central bank buys gold in August for 10th month in a row Traders have fully priced in a 25-bp cut this month, with an 8% chance of a jumbo 50-bp rate cut.
Tag News
Weekly update on Agro Chemicals & Fertilizers by Saurabh Ahire, Research Analyst - PL Capital
