According to Achiievers Equities, Gold prices dropped following the release of upbeat U.S. economic data and as investors continued to digest the Federal Reserve's hawkish message.
Achiievers Equities' commodity report on Gold
Gold trading range for the day is 28563-29053.
Gold prices dropped following the release of upbeat U.S. economic data and as investors continued to digest the Federal Reserve's hawkish message.
The Fed raised interest rates for the second time this year at the conclusion of its policy meeting, putting it in a range between 1.0%-1.25%.
The central bank maintained its outlook of three rate hikes total for this year, as it expects that a tightening labor market will lift inflation to the 2% target.SELL GOLD AUG 2017 @ 28900 SL 29050 TGT 28780-28650.MCX.
For all commodities report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.