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 exhibited volatility within a range of Rs.68,900 to Rs.69,450, with significant resistance at Rs.69,500 and immediate support around Rs.68,800. The global markets are experiencing heightened volatility, affecting commodities as currency fluctuations remain high. The next significant trigger for gold will be the upcoming inflation data, which is expected to provide clarity on the Federal Reserve's approach to interest rate cuts. Market consensus currently anticipates a cut of 0.50-0.75 basis points in September, with a 0.50% cut seen as the most probable outcome. This data will be crucial in determining gold's trajectory in the near term."
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