2025-08-05 11:54:13 am | Source: Kedia Advisory
Sell Gold Oct @ 101300 SL 101700 TGT 100800-100400. MCX - Kedia Advisory
GOLD
SELL GOLD OCT @ 101300 SL 101700 TGT 100800-100400. MCX
Observations
Gold trading range for the day is 99425-102235.
Gold rallied to all time high on MCX driven by rising expectations of a Fed rate cut as well as safe-haven demand.
Data showed US employment growth was weaker than expected in July, signaling potential cracks in the labor market.
Trump unveiled new tariffs rates—ranging from 10% to 41%—on imports from dozens of countries, set to take effect on August 7.
Citi raises gold forecast to $3,500/oz over next 3months on negative US outlook.
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