MCX Gold Intraday Tips Today: Profit 37,000 in 2 Lots, Cover Your Losses With Neal Bhai

MCX Gold Intraday Tips Today: Profit 37,000 in 2 Lots. Watch 59300 to 59115. Daily Paid Member’s mint money with neal bhai.

mcx gold tips for today
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MCX Gold 59300 to 59115 = 185 Points Done.

Today’s Profit 37,000 in 2 Lots. (Sure Short Trading Tips)

Market Ready For Big Move, Don’t Miss It. Fast Join Neal Bhai Reports.

Spot Gold eases on firmer dollar as traders await more Fed guidance

Gold prices moved lower in holiday-thinned trade on Monday, as the U.S. dollar bounced back from the previous session’s lows, with markets looking ahead to U.S. Federal Reserve Chair Jerome Powell’s testimony on Capitol Hill later in the week.

Spot gold (Yellow Metal) was down 0.3% to $1,952.00 per ounce by 10 a.m. EDT (1400 GMT). U.S. gold futures fell 0.4% to $1,964.00. Trading is expected to be slow with U.S. markets closed for the Juneteenth holiday.

The dollar index (DXY) edged up from a one-month low hit on Friday. A stronger dollar makes bullion less attractive for buyers holding other currencies.

The question remains on what would it take to make gold break out of its range-bound trading between $1,940 and $1,980, “given that the events of the last week failed to ultimately do it,” Craig Erlam, senior markets analyst at OANDA, said.

Bullion posted a 0.2% weekly fall last week as traders ramped up bets for a July rate hike after Fed officials struck a hawkish tone in their first comments since the central bank this month held interest rates steady after 10 straight hikes.

Markets are now awaiting Powell’s congressional testimonies on Wednesday and Thursday for cues on future rates.

“Real interest rates will continue to rise as inflation falls later in the year, reducing gold’s appeal as a non-yielding asset, and should strengthen the dollar,” Heraeus analysts wrote in a note.

Additionally, the European Union awaits its inflation print on Wednesday, with markets having largely priced in a rate hike in July, while the Bank of England is expected to raise rates by another 25 bps on Thursday.

Interest rate hikes raise the opportunity cost of holding non-yielding bullion.

Spot silver (XAGUSD) fell 0.7% to $23.98 per ounce, platinum (PL) was down 0.5% to $977.25, while palladium (XPDUSD) dropped 0.7% to $1,400.65.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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