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

2024-08-03 05:12:15 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 prices surged by over ?600, reaching ?70,555, with Comex gold supporting the buying trend at $2,460, up by more than $17. The rise is driven by renewed fears of a US recession following higher jobless claims and escalating tensions in the Middle East, fueling safe-haven buying. Investors are now focused on the upcoming Nonfarm Payrolls and unemployment data, which will provide clarity on the likelihood of a September rate cut by the Federal Reserve. The broad trend for gold remains positive."

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

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