Sell Gold OCT @ 153500 SL 154500 TGT 152000-151000. MCX - Kedia Advisory
GOLD
SELL GOLD OCT @ 153500 SL 154500 TGT 152000-151000. MCX
Observations
Gold trading range for the day is 149680-155780.
Gold fell as traders increased bets on Fed rate hike following stronger-than-expected US producer price data.
US PPI rose 0.4% in August, while annual producer inflation accelerated to 5.4%, above the 5.3% forecast.
Traders also raised bets on further ECB tightening after the central bank delivered an expected rate hike and warned that inflation risks remained.
People’s Bank of China extended its gold-buying streak to a 22nd consecutive month
