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
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."
Above views are of the author and not of the website kindly read disclaimer
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
MCX Copper April is expected to slip further towards...
India`s merchandise exports grow marginally by 0.7% ...
IMD Forecasts Above-Normal Monsoon for 2025, Offerin...
Agri Commodity Technical Report 16 April 2025 - Geoj...
India`s organic food exports register 35 pc jump, to...
Weekly Derivatives Insights - Axis Securities
When tech meets purpose: realme and Bhumi empowering...
Commodity Intraday Technical Outlook 16 April 2025 -...
India one of preferred markets with resilient macro ...
Aluminium trading range for the day is 229.2-236.4 -...
