2024-09-30 04:47:27 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 prices remained range-bound between $2645-$2660 in Comex, and Rs.75,750-Rs.76,100 in MCX as the market braces for a series of crucial data releases this week. Profit booking could dominate the week as the market weighs the likelihood of additional rate cuts from Fed Chair Jerome Powell, with a total of 1% expected in 2024 following the 0.50% cut on 18th September. There is growing anticipation of another 0.50% cut in the next meeting, but participants are cautious. If upcoming unemployment data shows strong figures, the Fed might take a less aggressive stance, which could temper gold's momentum. For MCX, support levels are seen at Rs.75,000-Rs.75,250, while resistance is near Rs.76,150-Rs.76,350."
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
AIIMS Research Day fosters discussion on innovation,...
NPAs of public sector banks at multi-decadal low: Ec...
Free trade for ambitious, confident youth and Aatman...
Economic Survey lays foundation for policy reforms t...
MSMEs account for nearly half of India?s exports: Ec...
Farmers look to Budget 2026-27 for relief and guaran...
Level playing field for savings instruments necessar...
Would reflect inclusive vision: Ruling parties optim...
Budget 2026: Industry expectations anchored in polic...
Industrial sector on growth path, needs strategic re...
