Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold prices surged to a record high of $2,617.40 on Monday, driven by a weaker US dollar amid growing expectations of a significant rate cut. The CME FedWatch Tool now indicates a 67% chance of a 50 basis point rate cut by the Fed, up from 50%, with a 33% probability of a 25 basis point cut. Geopolitical risks, particularly in the Middle East, and an alleged assassination at...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote on Gold Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
COMEX Gold (December) surged to $2,560/oz on Friday but closed the week flat at $2,524.6/oz as the mixed US jobs report left the debate over a potential 25 or 50 bps rate cut unresolved. Nonfarm payrolls increased by 142,000, marking a three-month average low since mid-2020, while the unemployment rate fell to 4.2%, its first decline in five months. Average hourly earnings rose 0.4% m...
Quote on Gold Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
According to Motilal Oswal Financial Services Ltd (MOFSL) continue maintain Buy on Dips stance for Gold; in terms of price projections, gold is expected to find support at Rs. 69,500 levels, with potential targets of Rs. 76,000 on domestic front, while on COMEX, $2430 remains an important support, with potential target of $2650.
In its latest report, MOFSL says the gold market has shown resilience in 2024, marked by significant volatility driven by geopolitical tensions, economic uncertain...
Price Pressures Ahead, `Buy on Dips` with Target of Rs.76,000 Domestically – Motilal Oswal Financial Services Ltd
Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold trades weak, down by 0.35%, with prices at $2,506 in Comex and ?71,850 in MCX. The rise in the dollar index, from yesterday’s low of 100.40 to 100.85, has prompted profit booking in commodities, including gold. This strengthening of the dollar is contributing to the current pressure on gold prices. As market participants await Friday's Core PCE Price...
Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
COMEX gold (December) hit an all-time high of $2,549.99 per ounce today, extending gains from Friday, when weaker US housing data fueled speculation about larger and faster rate cuts. Gold prices closed last week at $2533.70 per ounce, staging a sharp rebound from below $2,470 per ounce hit after mixed US data, stronger retail sales and lower unemployment claims, hinted at a potentiall...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote On Gold and Crude by Kaynat Chainwala, Senior Manager - Commodity Research, Kotak Securities
COMEX gold (December) hit an all-time high of $2,549.99 per ounce today, extending gains from Friday, when weaker US housing data fueled speculation about larger and faster rate cuts. Gold prices closed last week at $2533.70 per ounce, staging a sharp rebound from below $2,470 per ounce hit after mixed US data, stronger retail sales and lower unemployment claims, hint...
Quote On Gold and Crude by Kaynat Chainwala, Senior Manager - Commodity Research, Kotak Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold (December) surged by 1.2% to an all-time closing high of $2,504 per ounce on Monday, driven by escalating tensions in the Middle East, a decline in U.S. Treasury yields, and expectations of Federal Reserve rate cuts at its September 18 meeting. In a surprising shift, Fed Governor Michele Bowman, typically known for her hawkish stance, expressed a more neutral view, ackn...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities