Quote on Gold 12 June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold 12 June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold Surges on Geopolitical Tensions and US Debt Concerns
Gold prices rallied sharply on Comex, rising by $50 overnight as renewed concerns over the US debt ceiling and escalating geopolitical tensions with Iran triggered a flight to safe-haven assets. The rally pushed Comex gold above $3370, while MCX gold surged by Rs.1,200 to cross Rs.98,000. The broader uptrend in gold remains intact, with heightened sensitivity to geopolitical developments fueling fresh buying interest.
Technically, key support remains at $3290 on Comex and Rs.96,000 on MCX, while immediate resistance is seen at $3400 and Rs.99,500 respectively."
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