Sell Gold Feb @ 62350 SL 62550 TGT 62050-61900. MCX - Kedia Advisory
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Gold
Observations
Gold trading range for the day is 61435-63205.
Gold dropped as dollar held firm and investors awaited more U.S. economic data
Fed Powell said that it's clear the monetary policy is slowing the economy down as expected, with interest rates reaching appropriate tightening levels
Recent cautious remarks by Fed’s Powell, and weak data in the US manufacturing sector boosted the odds for an interest rate cut in March 2024.
Gold holdings at the SPDR Gold Trust rose 2.3 tonnes to a total of 881.12 tonnes, the highest since November 22.
SELL GOLD FEB @ 62350 SL 62550 TGT 62050-61900. MCX
