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28-12-2023 12:25 PM | Source: Kedia Advisory
Sell Gold FEB @ 63800 SL 64000 TGT 63500-63200. MCX - Kedia Advisory
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Gold
Observations
Gold trading range for the day is 62990-64050.
Gold prices crept up on market expectations Fed will start cutting interest rates in the first quarter of 2024.
The core PCE price index declined more than expected to 3.2% in November.
Market participants are pricing in the first rate cut by the Fed in March, and second in May after two years.
Action could be limited due to a thin-trading week
SELL GOLD FEB @ 63800 SL 64000 TGT 63500-63200. MCX
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