Gold prices traded in a range between $2,327 and $2,335 in Comex as the US holiday on Juneteenth day saw limited movement in the absence of US participants. Same was seen in MCX with range move between 71625 - 71880. A base seems to be forming near $2,300-$2,315, with resistance at $2,345-$2,360. A major move is expected only if this range is broken. While the Fed's stance on cutting rates remains hawkish, recent data on US CPI and retail sales suggest that interest rate cuts may be on the horizon, especially with the US election approaching in the second half of 2024.