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

2024-11-18 05:24:11 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 traded strongly positive due to heightened geopolitical tensions between Russia and Ukraine. President Joe Biden's authorization for Ukraine to use powerful American long-range weapons to strike within Russia escalated the conflict. In response, Moscow deployed around 50,000 troops to the southern region of Kursk, further intensifying concerns. This geopolitical risk bolstered gold prices as investors turned to safe-haven assets. Key support for gold is seen around 74,200–74,250 INR, while resistance stands at 75,100 INR."

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

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