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

2024-12-12 05:04:35 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 Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

"Gold traded within a volatile range and experienced minor profit booking at higher levels, with Comex prices facing resistance near $2,720–$2,725 and MCX encountering a hurdle around Rs.79,000. Yesterday's US CPI data came in line with expectations, providing a positive push to gold prices as it reinforced the likelihood of continued interest rate cuts, as indicated by the Fed's watch tool. In MCX, resistance is seen at Rs.79,500–Rs.79,850, while strong support lies near Rs.78,000–Rs.78,100, keeping the range-bound movement intact in the short term."

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

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