Gold trading strategy: Support seen at Rs 73,000; Resistance at Rs 75,200

Quick Summary:

After consolidating in the $2470-$2530 range for nearly three weeks, spot gold rallied to a fresh record high of $2555 on Thursday.

PPI (July) data were revised lower across the board, which boosted the possibility of Fed rate cuts.

The bank sees inflation as steady but flagged risks to growth outlook, and said that its future monetary decisions will be data dependent.

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Category: BusinessFinance

Markets: India

Topics: Derivatives Gold trading strategy Commodities Gold price today Indian Markets MCX Gold Stock Calls Gold futures Markets Gold trading Gold price Gold commodity Gold levels MCX Gold rate today Gold strategy Gold prices Gold strategy

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Article Type: News Report

Published On: 2024-09-13 @ 06:41:47 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 567 words

Reading Time: 4 minutes read

Sentences: 26 lines

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News ID: 22480178

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