SELL Gold Jun @ 159500 SL 160500 TGT 158200-157200. MCX - Kedia Advisory
Gold
SELL GOLD JUN @ 159500 SL 160500 TGT 158200-157200. MCX
Observations
Gold trading range for the day is 156390-162070.
Gold dropped as surging Treasury yields and a stronger U.S. dollar dulled its appeal.
Inflation data has shown consumers and businesses are starting to see big increases in price pressures as a result of the war.
ANZ lowers gold's year – end target price to $5,600/oz from $5,800/oz
Dealers in India quoted discounts of up to $207 over official domestic prices, up from the previous week's discounts of up to $15.
Silver
SELL SILVER JUL @ 273500 SL 276000 TGT 270000-268000. MCX
Observations
Silver trading range for the day is 259820-289250
Silver dropped as concerns over rising US inflation and potential rate hikes weighed on the market.
Recent data revealed that US producer, import, and export prices rose at their fastest pace since 2022 in April.
Markets have now fully priced out the chance of a Fed rate cut this year, with some traders even wagering on a potential hike by December.
UBS strategists slashed their full-year investment demand from over 400 million ounces to 300 million ounces, amid weaker industrial usage
