How to trade Gold ahead of US Fed's policy move? Check trading strategy

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How to trade Gold ahead of US Fed's policy move? Check trading strategy - Business Standard

Quick Summary:

Spot gold was trading with a loss of around 0.45 per cent at $2,570 at the time of the MCX closing.

The MCX October gold contract closed at Rs 73,150 (LTP), down 0.49 per cent.

Gold is likely to rise to challenge the resistance around USD2,650 (Rs 75,200) and USD 2,700 (Rs 76,500) should the Fed cut the rates by 50-bps; however, a 25-bps cut can see the metal correcting to USD 2,500 mark (Rs 71,200)in the near-term.