Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
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Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold trades weak, down by 0.35%, with prices at $2,506 in Comex and ?71,850 in MCX. The rise in the dollar index, from yesterday’s low of 100.40 to 100.85, has prompted profit booking in commodities, including gold. This strengthening of the dollar is contributing to the current pressure on gold prices. As market participants await Friday's Core PCE Price Index in the US, further profit booking could push gold prices towards $2,480 in Comex and ?71,000 in MCX."
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