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."
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