Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold recovers as trade uncertainties linger; short-covering supports price
Gold prices rebounded strongly after a minor gap-up opening, gaining Rs.950 to trade at Rs.93,325 on the MCX. Comex gold also found crucial support near $3,200, with sentiment stabilizing amid persistent ambiguity over US-led trade deals.
The lack of clarity and shifting stances from the US on ongoing trade discussions has led market participants to unwind short positions in gold, providing fresh upside momentum. With trade talks showing little concrete progress, safe-haven interest is returning gradually.
Volatility is expected to remain elevated, with gold likely to trade in a broad range of Rs.92,000–Rs.94,500 in the coming sessions."
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