Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

2025-02-28 05:57:52 pm | Source: LKP Securities Ltd

Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

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Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

"Gold prices faced weakness as the dollar index surged above 107.30$, adding pressure on bullion. With Comex gold breaking below $2,900, profit booking emerged as the Fed signaled no urgency in aggressive rate cuts. The overbought market condition also contributed to the pullback. The $2,840-$2,850 zone is crucial; a breach below $2,840 could lead to a further decline toward $2,800-$2,790 in the coming days. In MCX, Rs.84,000 remains a key level, aligning with the 25-DMA, where market participants may look for signs of recovery."

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Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

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