Sell Gold DEC @ 150000 SL 151000 TGT 148500-147500. MCX - Kedia Advisory
GOLD
SELL GOLD DEC @ 150000 SL 151000 TGT 148500-147500. MCX
Observations
Gold trading range for the day is 146245-152325.
Gold fell as a rise in oil prices heightened inflation concerns and reinforced expectations of further Fed interest-rate hikes.
US President Trump said he rejected an Iranian proposal to reopen the Strait of Hormuz and end fighting. Oil prices drifted higher.
Feds Hammack is concerned that persistently high inflation risks conditioning the American public to accept elevated prices as the norm.
COMEX gold speculative net longs fell 5,727 contracts to 131,334
