Gold Strategy: Buy dips; resistance at Rs 75,400, support at Rs 73,000

Quick Summary:

Spot gold surged to a fresh record high of $2465 on July 16 as traders continued to pile into the metal on Fed rate cut bets.

Nonetheless, Market participants continue to assign a 93 per cent probability for a September rate cut.

Total known global gold ETF holdings stood at 81.673 as of July 15 as the ETF volume grew for the tenth day, reaching the highest level since April 12.

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Category: BusinessFinance

Markets: IndiaGermanyZimbabwe

Topics: Stock Callls Gold trading strategy Markets MCX Gold Gold Gold futures Stock Call Gold Support Gold target price Gold resistance Gold rate today

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 10:40:11 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 568 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21660651

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Official Website: business-standard.com

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