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 rallied positively with a gain of Rs 500, reaching Rs 82,850 in MCX. Participants increased gold allocations as concerns over a potential Trade War 2.0 from the US triggered safe-haven demand. Trump's aggressive tariff policies triggered a stronger dollar rally. The U.S. administration imposed a 25% tariff on Canada and Mexico and a 10% tariff on China, with additional threats of higher duties on the Eurozone. A direct warning to BRICS nations against de-dollarization has escalated trade tensions, with Trump signaling 100% tariffs on BRICS if they push for alternatives to the dollar. The uncertainty surrounding global trade imbalances has fueled continued gold buying. The next target is Rs 83,000, with support at Rs 81,500."
Above views are of the author and not of the website kindly read disclaimer
