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06-03-2024 10:54 AM | Source: Kedia Advisory
Sell Gold Apr @ 65000 SL 65300 TGT 64650-64500. MCX - Kedia Advisory

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Gold

Observations

* Gold trading range for the day is 63960-65580.

* Gold record highs driven by mounting hopes Fed’s interest rate cut in June

* Fed’s Bostic said that he still thinks it will likely be appropriate for the Fed to approve two quarter-point rate cuts by the end of this year.

* Traders see more than 50% chance that the Fed will start cutting rates by June, according to the CME FedWatch tool.

* The Gold Trust's holdings dropped 10% from the previous year as of March 4.

SELL GOLD APR @ 65000 SL 65300 TGT 64650-64500. MCX

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