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

2025-01-23 04:48:06 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 experienced minor profit booking following the positive rallies witnessed in the past few days after Trump's oath. Market participants are now focusing on the upcoming U.S. Federal Reserve policy meeting scheduled for January 29, 2025. With recent data, including a lower-than-expected CPI and softer payroll numbers, expectations are building for the Fed to adopt a rate-lowering stance. However, ahead of the event, some resistance is likely as traders may book profits at higher levels. In MCX, gold could see profit booking towards the Rs.78,800-Rs.79,000 zones, with volatility expected to persist until clearer cues emerge from the Fed's policy announcement."

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

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