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 rallies on rate cut expectations and dollar weakness; all eyes on US Fed.
Gold prices surged sharply as expectations of an interest rate cut by the US Federal Reserve this week fueled strong buying. Comex gold rose by $12.05 to $3,307, while MCX gold gained ?1,650 to trade at ?94,350. The rally is being supported by renewed risk aversion, a softer dollar, and anticipation around the Fed’s policy stance.
Markets are keenly awaiting the FOMC decision, especially after recent public disagreements between President Trump and Fed Chair Jerome Powell regarding the rate path. A dovish tone or actual rate cut could push gold higher, while any hawkish surprise might trigger volatility.
Gold is likely to remain volatile within the Rs 93,000–Rs 96,000 range in the short term."
Above views are of the author and not of the website kindly read disclaimer
