Sell Gold JUN @ 71750 SL 72000 TGT 71450-71250. MCX - Kedia Advisory
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GOLD
Observations
Gold trading range for the day is 70740-73100.
Gold declined on profit-taking after minutes from the U.S. Federal Reserve's latest meeting.
Fed’s latest meeting indicated that interest rates would stay higher for longer.
The market has also been concerned that high gold prices could affect purchases by central banks, which were active buyers in 2022-2023.
Imports to India, could fall by nearly a fifth in 2024 as high prices spur consumers to exchange old jewellery for new items.
SELL GOLD JUN @ 71750 SL 72000 TGT 71450-71250. MCX
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