Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold Trades Volatile Amid Global Trade Optimism; Fed Stance Weighs on Sentiment
Gold prices remained volatile, hovering near $3,200 on Comex and Rs.92,700 on the MCX, as markets reacted to potential trade agreements between the U.S. and key partners like the UK and China. The absence of a dovish signal from the U.S. Federal Reserve, with no immediate interest rate cut, further limited buying momentum in bullion.
Technical indicators suggest continued weakness as long as prices remain below Rs.94,000 on MCX and $3,240 on Comex. The easing of global risk concerns and a firm dollar may continue to pressure gold in the short term."
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