2025-04-04 04:52:44 pm | Source: LKP securities Ltd
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 witnessed profit booking with prices down by ?650 at ?89,450 in MCX, following the official announcement of tariff pricing. The move comes as the markets had already priced in the impact of reciprocal trade tariffs over the past few months, making profit-taking a natural outcome. With the tariff premium now largely discounted, further downside pressure may emerge as geopolitical tensions—especially from Russia-Ukraine and the Middle East—remain relatively subdued. This easing of global uncertainty could lead to a softening in safe-haven demand. On the technical front, Comex gold faces strong resistance at the $3,120–$3,130 zone, while immediate support is seen around $3,050–$3,055. A break below this could accelerate selling pressure in the near term."
Above views are of the author and not of the website kindly read disclaimer
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
India`s best ?off-shore airport` to be built in Mumb...
`Will work together to produce high-quality cotton`:...
Infrastructure Sector Update : Diversified EPC compa...
Andhra CM Chandrababu Naidu calls on Governor at Raj...
Internet Sector Update : Stabilising before potenti...
HM Shah to inaugurate BJP`s new Kerala HQ today, rev...
Shooting of Pawan Kalyan`s action spectacle They Cal...
Kajol talks about why recall value of movies have le...
Namibia`s mining revenue dips amid diamond industry ...
Madhya Pradesh CM inaugurates exhibition on `Buildin...
