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 continued to face significant pressure as the strength in the dollar index kept prices under $2,600 on COMEX, with a drop of $24. In MCX, gold fell by over Rs.500, reaching Rs.74,750 and slipping below Rs.75,000 for the first time since October 10th. The current downtrend suggests that further weakness could persist, potentially driving prices down towards Rs.72,000 if COMEX gold remains below $2,600 and tests the $2,500 level in the upcoming sessions. Key events this week, including the US CPI data and the speech by the Federal Reserve Chair, will be critical in providing further direction for gold prices."
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