Sell Gold OCT @ 153000 SL 154000 TGT 151500-150500. MCX - Kedia Advisory
GOLD
SELL GOLD OCT @ 153000 SL 154000 TGT 151500-150500. MCX
Observations
Gold trading range for the day is 150790-153790.
Gold gained as gains in oil prices and bond yields lost momentum ahead of the latest US Fed policy decision.
The Fed unanimously raised the target range by 25bps to 3.75%-4.00% in September 2026 as expected, marking first rate hike since 2023.
Goldman Sachs said its fair-value forecast of $4,900/oz for gold at end-2026 is conditional on the assumption of continued strong central bank demand.
For the week to Sept. 8, COMEX gold speculators cut net longs by 1,263 contracts to 139,548.
