2025-04-11 05:54:28 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 extended its record-setting rally, soaring by ?1,500 to hit fresh lifetime highs near ?93,500 on MCX, defying rupee strength as geopolitical tensions and tariff battles between the US and China escalated further. The reciprocal tariff actions have injected fresh uncertainty into global trade flows, prompting increased hedge positions in safe-haven assets like gold. Despite domestic currency appreciation, the robust global cues and heightened economic concerns have kept sentiment strongly bullish for bullion. With momentum in favor of buyers, gold now eyes the resistance zone of ?94,500–?95,000, while ?92,000 serves as an important support. Ongoing developments in the tariff dispute and investor positioning ahead of key global economic data will continue to drive price action."
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