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Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

"Gold Rallies on Weak Dollar and U.S. Debt Concerns; Volatility Expected to Persist

Gold prices traded positive, rising over ?800 to reach ?96,400 on the MCX, supported by a sharp decline in the U.S. Dollar Index and renewed concerns over U.S. debt sustainability. The weaker dollar and ongoing global geopolitical uncertainties have sustained investor interest in gold as a safe-haven asset.

Market participants should brace for continued volatility, driven by dollar index fluctuations, rupee movement, and key macroeconomic indicators. This week’s U.S. Manufacturing and Services PMI, along with New Home Sales data, are expected to influence gold’s short-term direction.

The price range for gold in the coming days is likely to stay between ?95,000 and ?96,500, with traders advised to maintain a cautious stance amid global crosscurrents."

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