Quote on Gold Commentary by Mr. Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services Ltd
Below the Quote on Gold Commentary by Mr. Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services Ltd
Gold prices rose 1% to hit a fresh record high, anchored above the $3,000 mark, as rising Middle East tensions and trade uncertainties due to U.S. President Donald Trump's tariff plans fueled demand for the safe-haven asset. Israeli airstrikes killed more than 400 people in Gaza, threatening a two-month ceasefire. Meanwhile, Donald Trump has floated a series of U.S. tariff plans, including a flat 25% duty on steel and aluminum that came into effect in February, as well as reciprocal and sectoral tariffs that he said will be imposed on April 2. Traders expect the Fed to keep interest rates unchanged, while they see nearly a 66% chance of a rate-cut in June, according to the CME Group's Fed-Watch Tool. US industrial production was reported better than expectations at 0.7% v/s 0.2%. While, President Putin agrees 30-day halt to strikes on Ukrainian energy infrastructure in call with President Trump, increasing hopes of some ease off. Focus today will be on Fed policy meeting, Governor Powell’s comments and economic forecasts
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