Free MCX Gold Tips for Today, 18 July 2023: Go for Intraday Call Sell Between 59320—59360 Target Price 59160—59010 SL (Stop Loss) Paid Member’s.
- MCX Copper Tips for Today, 18 July 2023: Go Long 726—725 Target Price
- Interest rate futures showed markets were pricing in another rate hike at the Fed’s July 25-26 meeting, with rate cuts seen well into 2024.
- Fed Chair Jerome Powell had earlier highlighted the majority view that two additional rate increases would be needed.
- Fed Governor Christopher Waller made the case for tighter policy in the central bank leadership’s final remarks before the blackout on public comments ahead of the July meeting.
- Lower interest rates decrease the opportunity cost of holding non-yielding bullion.
- Speaking to Bloomberg TV on Monday, Treasury Secretary Janet Yellen said she did not expect the U.S. economy to enter into a recession.
- Goldman Sachs’ chief economist, Jan Hatzius, said the bank was cutting its probability that a U.S. recession will start in the next 12 months to 20% from an earlier 25% forecast.
- China’s economy grew at a frail pace in the second quarter, raising pressure on policymakers to deliver more stimulus to shore up activity.
