2024-05-09 11:32:53 am | Source: Kedia Advisory
Sell Gold Jun @ 71300 SL 71500 TGT 71000-70800. MCX - Kedia Advisory
GOLD
Observations
Gold trading range for the day is 70700-71530.
Gold held steady as investors anticipated new signals from several Fed officials.
Fed’s Kashkari said that due to stalled inflation, the US central bank may need to keep borrowing costs unchanged for an extended period.
Markets now show a 65% chance of a rate cut in September, per CME's FedWatch Tool.
PBOC increased its gold reserves by 60,000 troy ounces in April, marking the 18th consecutive month of purchases.
SELL GOLD JUN @ 71300 SL 71500 TGT 71000-70800. MCX
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