2024-05-17 11:30:15 am | Source: Kedia Advisory
Sell Gold Jun @ 73100 SL 73300 TGT 72850-72650. MCX - Kedia Advisory
GOLD
Observations
Gold trading range for the day is 72460-73530.
Gold settled flat as investors digested mixed economic data from the US.
Initial jobless claims fell roughly in line with forecasts, import and export prices rose more than anticipated.
Stalling retail sales and previously soft labour data boded well for less restrictive Fed stance.
Investors are now betting on more than a 70% chance of a Fed rate reduction in September.
SELL GOLD JUN @ 73100 SL 73300 TGT 72850-72650. MCX
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