SELL GOLD FEB @ 63100 SL 63300 TGT 62800-62600. MCX - Kedia Advisory
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Gold
Observations
Gold trading range for the day is 62745-63335.
Gold gains on expectations that the Fed will lower interest rates next year.
US PCE prices unexpectedly declined by 0.1% mom in November, contrary to market forecasts of a flat reading.
Coupled with the previous revision of the country's Q3 GDP, the readings solidified hopes for the first rate cut by the Fed in March. Physical gold demand in India fell sharply due to high domestic prices, forcing dealers to quote steeper discounts
SELL GOLD FEB @ 63100 SL 63300 TGT 62800-62600. MCX
