According to Motilal Oswal Financial Services Ltd (MOFSL) continue maintain Buy on Dips stance for Gold; in terms of price projections, gold is expected to find support at Rs. 69,500 levels, with potential targets of Rs. 76,000 on domestic front, while on COMEX, $2430 remains an important support, with potential target of $2650.
In its latest report, MOFSL says the gold market has shown resilience in 2024, marked by significant volatility driven by geopolitical tensions, economic uncertain...
Price Pressures Ahead, `Buy on Dips` with Target of Rs.76,000 Domestically – Motilal Oswal Financial Services Ltd
Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold trades weak, down by 0.35%, with prices at $2,506 in Comex and ?71,850 in MCX. The rise in the dollar index, from yesterday’s low of 100.40 to 100.85, has prompted profit booking in commodities, including gold. This strengthening of the dollar is contributing to the current pressure on gold prices. As market participants await Friday's Core PCE Price...
Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Oil prices were little changed on Friday, on track to end the week lower, as downward revisions to U.S. employment data raised concerns over demand and renewed ceasefire talks in Gaza eased worries about supply disruptions.
Both Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures were up 10 cents, or 0.1% each, at 0433 GMT. Brent futures, which has shed about 3% so far this week, was at $77.32 a barrel, and WTI, which has lost nearly 5%, was at $73.11.
Both benchmar...
Oil set to end week lower on demand concerns, easing supply woes
Below the Quote On Gold and Crude by Kaynat Chainwala, Senior Manager - Commodity Research, Kotak Securities
COMEX gold (December) hit an all-time high of $2,549.99 per ounce today, extending gains from Friday, when weaker US housing data fueled speculation about larger and faster rate cuts. Gold prices closed last week at $2533.70 per ounce, staging a sharp rebound from below $2,470 per ounce hit after mixed US data, stronger retail sales and lower unemployment claims, hint...
Quote On Gold and Crude by Kaynat Chainwala, Senior Manager - Commodity Research, Kotak Securities