2024-05-13 11:37:47 am | Source: Kedia Advisory
Sell Gold Jun @ 72900 SL 73100 TGT 72650-72450. MCX - Kedia Advisory
GOLD
Observations
Gold trading range for the day is 70575-72245.
Gold gains as weak U.S. employment figures fuelled bets of interest rates cuts by Fed.
The number of Americans filing new claims for unemployment benefits increased more than expected last week.
Demand for physical gold was much lower than usual during a key festival in India, as near-record high prices deterred retail buyers.
CME's FedWatch Tool, traders are currently pricing in about a 69% chance of a Fed rate cut in September.
SELL GOLD JUN @ 72900 SL 73100 TGT 72650-72450. MCX
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