Quote on Gold: Dollar index recovered some lost ground provided weakness into the Gold prices Says Jateen Trivedi, LKP Securities
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Below is Quote on Gold 24 March 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities
Gold prices remain sideways with a range between 60400-59600 seen in MCX Gold and 1975-2010$ in Comex, keeping the prices sideways in the week with profit booking seen every time price tries to cross or remain above 2000$. Dollar index recovered some lost ground provided weakness into the Gold prices. Going ahead all eyes will be on FED's interest rate decision. which will provide further projection for economic outlook and how the FED's would keep interest rate cycle projection, with interest rate already at 5.00 and December rate forecast seen near 5.00% there seems to be less scope for rates to go beyond 5.00 for a brief period of time.
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