Quote on Gold by Mr. Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd
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Below the Quote on Gold by Mr. Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd
"Commodities are broadly stuck in a range and trading flat, as we look ahead to the U.S. CPI numbers and the Federal Reserve’s policy meeting outcome later in the day. Although the Fed is expected to keep rates unchanged today, but their forward guidance/ commentary on inflation will be closely watched and any surprises would lead to increased volatility in the financial market.
Technically, Gold looks corrective with resistance at 71800/ 72350, while downside support holds at 71050/ 70700."
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