Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices opened strong in Comex, starting near $2,440 and rallying to $2,455, which pushed MCX Gold to Rs 70,500. However, panic triggered by the Japanese Yen and the Bank of Japan has contributed to a sell-off in gold. With US interest rates still elevated, gold has encountered resistance on recent rises, particularly around Rs 70,500. A potential preemptive US interest rate cut could increase buying pressure in gold, especially since recent economic data from the US has not been supportive. As a result, the price range for gold is expected to be between Rs 69,000 and Rs 71,000, with volatility likely in the sessions ahead."
Above views are of the author and not of the website kindly read disclaimer
