Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Gold Trades Positive, Support Holds Ahead of Key U.S. Data
Gold prices traded positive today, taking strong support around the $3,280–$3,300 zone on Comex, while MCX gold found buying interest with gains of 600rs taking support of ?95,000. On the upside, resistance is expected near $3,375 on Comex and ?97,000 in the domestic market.
Investor focus now shifts to the upcoming U.S. FOMC meeting minutes, Q1 GDP data, and the Core PCE Price Index all of which are likely to offer crucial insights into inflation trends and future interest rate expectations. These events may drive sharp moves in gold as the market reacts to any change in the U.S. monetary policy outlook"
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