Quote on Gold 19 June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold 19 June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold traded in a volatile range as markets reacted to the US Federal Reserve's policy stance, which signaled no immediate rate cut and pushed the possibility of easing further out by at least six months. Comex gold moved between $3,347 and $3,375, while MCX gold traded between Rs.98,650 and Rs.99,450.
Despite the Fed’s hawkish tone, ongoing geopolitical tensions between Iran and Israel continue to offer downside protection for gold. The broader trend remains range-bound to positive, with a key support level seen at $3,290, and strong resistance near $3,500 on Comex.
Unless there is a clear resolution on geopolitical fronts or a shift in Fed commentary, gold is likely to stay buoyant within this broad band."
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