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 prices are currently facing minor resistance near the ?78,500 level, with a similar hurdle in the international market at around $2,745-$2,750. This resistance is holding firm, as the upcoming US election adds a layer of caution for investors. Additionally, the Federal Reserve's interest rate cut decision on November 7th is expected to keep gold prices volatile throughout the week. Should gold fail to hold above the $2,725 level, it may see further weakness, potentially targeting levels around $2,680 to $2,650. These technical thresholds will be critical for determining the near-term trend in gold prices amidst the heightened market sensitivity to these major events."
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