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

2025-04-03 05:10:15 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 saw an initial rally in the morning session driven by the impact of reciprocal tariffs but soon faced profit booking as prices had largely factored in the tariff effects. Moving forward, market participants will shift focus to the upcoming US Non-Farm Payrolls and Unemployment data, which will provide further direction for gold prices. Comex gold continues to face strong resistance near $3,150, while $3,080 serves as an immediate support level. A break below $3,080 could trigger a sharp decline toward $3,000. In MCX, Rs91,000 remains a critical resistance zone, whereas Rs 89,800 serves as immediate support. A breach below Rs 89,800 could push prices lower toward Rs 88,000."

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

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