Quote on Gold 23th June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold 23th June 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold traded in a positive range between $3350–$3380 in Comex as US airstrikes on Iranian nuclear sites heightened geopolitical risks. The escalation has triggered safe-haven buying, with participants closely watching for further developments. Any retaliatory actions or military responses could lead to a sharp spike in gold prices.
However, if no further escalation occurs and diplomatic efforts emerge, strong profit booking may set in. In such a case, immediate support lies at $3290 in Comex.
In the domestic market (MCX), gold is holding firm above Rs.98,000, which acts as a key support, while resistance is seen around Rs.99,500–Rs.99,750.
Outlook: Volatility is expected to persist in the short term as market direction hinges on geopolitical developments and risk sentiment."
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