Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold continued to face significant pressure as the strength in the dollar index kept prices under $2,600 on COMEX, with a drop of $24. In MCX, gold fell by over Rs.500, reaching Rs.74,750 and slipping below Rs.75,000 for the first time since October 10th. The current downtrend suggests that further weakness could persist, potentially driving prices down towards Rs.72,000 ...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold traded weak, dropping by ?300 to ?77,150 and by $20 to $2,685, amid strength in the dollar index and the Federal Reserve's policy announcement that aligned with expectations of a 0.25% rate cut. The Fed's outlook, coupled with inflation trending toward the targeted 2%, offered no new surprises to support gold prices. Profit booking continued following Tr...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
With Donald Trump back in the Oval Office, India’s financial markets are abuzz with anticipation. As a leader known for his unconventional policies, particularly on trade, foreign relations, and economic matters, Trump’s presidency is likely to shape global markets in ways that India cannot ignore. Here’s a closer look at how Indian stocks, commodities, and currency markets are responding and may continue to evolve in this new era.
Market Reactions on November 6, 2024
As...
India’s Financial Markets in the Era of Donald Trump’s Presidency: What to Expect in Stocks, Commodities, and Currency Markets
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 vol...
Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices experienced volatility as Comex gold found support near $2,730 but struggled to break above $2,750. With the U.S. election results due in the next two days, market participants are expected to have mixed sentiments, likely resulting in a range-bound session between Rs.78,000 and Rs.79,000 in MCX. Once the election outcome is announced, gold could see a ...
Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
The World Gold Council (WGC) reported stable global gold demand in Q3 2024 at 1,176.5 metric tons, with investor demand offsetting lower jewellery consumption. Spot gold prices surged 34% year-to-date, driven by U.S. election uncertainty, lower interest rates, and geopolitical risks. While bar and coin investment fell, gold-backed ETFs saw positive inflows, marking their first rise since Q1 2022. Despite strong demand in India, global jewellery consumption declined 12%, and central banks cut ...
Rising Gold Investment Balances Weak Jewellery Demand in Q3: WGC Report by Amit Gupta, Kedia Advisory
