Sell Gold Feb @ 62400 SL 62600 TGT 621500-62000. MCX - Kedia Advisory
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Gold
Observations
Gold trading range for the day is 61740-62820.
Gold dipped after the New York Federal Reserve data showed an unexpected and sharp decline within its region's manufacturing sector last month
Fed Chair Jerome Powell said the tightening of monetary policy is likely over, with a discussion of cuts in borrowing costs coming "into view."
Markets are pricing in around a 75% chance of a rate cut in March, CME FedWatch tool showed.
The upcoming interest rate cuts speak in favor of gold, adding it expects prices at $2,150 in the second half of next year - Commerzbank
SELL GOLD FEB @ 62400 SL 62600 TGT 621500-62000. MCX
