Quote on Gold 03 June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold 03 June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold Holds Steady After Strong Rally; Key U.S. Jobs Data in Focus.
Gold remained largely flat near ?97,700 after yesterday’s sharp rally of nearly ?2,000, touching ?98,000 on MCX. The market is now consolidating ahead of key U.S. economic releases. Today’s highlight is the JOLTS job openings data, while tomorrow will bring ADP Non-Farm Employment Change, ISM Services PMI, and Non-Manufacturing Prices all of which could drive volatility in gold.
A slightly stronger dollar near 99.00 is exerting mild pressure, though the broader trend in gold remains bullish. Technical charts indicate support at ?95,000, with resistance now seen at ?99,500.".
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