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

2025-01-30 05:02:37 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 traded positively with a Rs.500 gain at Rs.81,400 in MCX as participants positioned themselves against potential import duty hikes, following the 6% cut in the previous Budget. A significant divergence was observed between Comex and MCX, with domestic gold rallying 2.5% in the past week, while Comex gained only 0.50%. The Federal Reserve’s statement on maintaining steady rates while closely monitoring inflation data adds to the uncertainty, which continues to support gold prices. In the domestic market, Rs.79,500 acts as a key support level, while Rs.82,000 serves as the next major resistance."

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

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