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 62385-63565.
Gold rose as latest US data supported bets of early monetary easing by the Fed in 2024.
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
