2024-08-29 10:08:44 am | Source: Kedia Advisory
Sell Gold Oct @ 71900 SL 72100 TGT 71600-71400. MCX - Kedia Advisory
GOLD
Observation
Gold trading range for the day is 71215-72335.
Gold fell as investors awaited a key U.S. inflation reading for clarity on a likely September rate cut by Fed.
Fed Powell stated the time has come for policy adjustment, but the timing and pace of rate cuts depend on incoming data.
Gold demand in China is expected to improve in coming months due to economic uncertainty.
China's net gold imports via Hong Kong rose by about 17% from June, up from 21.919 tons in June.
SELL GOLD OCT @ 71900 SL 72100 TGT 71600-71400. MCX
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