2024-06-14 09:44:44 am | Source: Kedia Advisory
Sell Gold Aug @ 71300 SL 71500 TGT 71000-70800. MCX - Kedia Advisory
Gold
Observations
Gold trading range for the day is 70515-72065.
Gold dropped as investors continued to assess the Federal Reserve’s updated interest rate projections.
Dot-plot projections from FOMC members indicated that, on average, they expect only one 25bps rate cut this year.
Policymakers expressed reduced optimism about disinflation in the US economy, while growth expectations persisted.
Gold production in South Africa dropped by 1.7% year-on-year in April 2024
SELL GOLD AUG @ 71300 SL 71500 TGT 71000-70800. MCX
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