Latest news with #JateenTrivedi
Mint
13 hours ago
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on June 3
Gold, silver prices in your city, June 3: Donald Trump's tariffs standoffs with China and the European Union (EU), geopolitical uncertainity due to the Russia-Ukraine war, and anticipation ahead of the US Federal Reserve rate decision are driving gold prices to recent highs. Silver has crossed the ₹ 1 lakh/kg mark as investors flock to safe haven commodities to secure their portfolios amid a volatile market. Contracts for gold futures dated June 5 jumped 1.7 per cent or ₹ 1,630/10 gm, while gold MCX prices hit an intraday high of ₹ 97,505/10 gm during the June 2 (Monday) commodity market session, up around ₹ 2,000/10 gms. US-based Comex gold was up 1.74 per cent at $3,373 on June 2 as of 6.42 am (EDT). Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, pegged the key levels for MCX gold prices to have support at ₹ 94,000, with the resistance expected between ₹ 98,500 to ₹ 99,000 levels. Overall, since January, gold has given 25 per cent returns, year-on-year (YoY), this number is 40 per cent. Further, it has also returned 15 per cent CAGR since 2001, and beaten inflation by more than 2-4 per cent since 1995, data shows. Data from Motilal Oswal Private Wealth showed that gold investment demand in the March quarter jumped 552 tonnes or 170 per cent YoY, reinforcing gold's status as a resilient hedge. Prices were in the green today at 7.20 am on June 3. The MCX gold index was at ₹ 96,781/10 gm, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,00,098/kg, it showed. Further, 24-carat gold was priced at ₹ 98,010/10 gm, according to data on the Indian Bullion Association (IBA) at 7.20 am on June 3. Further, 22-carat gold was priced at ₹ 89,843/10 gms. And, silver prices today are at ₹ 1,01,300/kg (Silver 999 Fine), as per the IBA website. So, check here for prices of gold and silver in your city today on June 3 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
3 days ago
- Business
- Mint
Gold price outlook: Will yellow metal rise amid dollar-driven volatility? Experts weigh in
Gold price outlook: Gold Futures on India's Multi Commodity Exchange (MCX) closed 0.59 per cent or ₹ 568 lower on Friday, 30 May 2025, amid tepid demand for safe-haven assets and a rising US dollar backed by US economic data. MCX Gold's June contract closed 0.59 per cent lower at ₹ 95,891 per 10 grams after Friday's market session, compared to ₹ 96,459 per 10 grams in the previous commodity market close. Experts anticipate that gold prices in India will trade in a range-bound movement amid ongoing tariff uncertainty and rising dollar-driven volatility. Global gold investors will be looking out for key data like the U.S. labour data, global PMIs, and central bank decisions, including those of the European Central Bank (ECB) and the Reserve Bank of India (RBI). Bloomberg US Dollar Spot Index was up 0.05 per cent at 99.329 as of 12:00 a.m. (EDT) on Friday, 30 May 2025. The demand for safe-haven assets like gold ranges along with geopolitical tensions, as investors tend to withdraw their money from gold and switch to high-risk assets after a positive economic development. Jigar Trivedi, Senior Research Analyst at Reliance Securities, said that the precious yellow metal lost some ground after the strong US economic data release dampened demand for safe-haven gold and stabilised the US dollar last week. The US greenback steadied at 99.4 levels on Friday, 30 May 2025, after its fifth consecutive decline, amid aggressive trade policies that could undermine the dollar's appeal. The commodity market expert estimated that Comex gold will find support at ₹ 3,260 per ounce and resistance near the $3,400 level per ounce. Trivedi recommended that investors maintain a cautious sentiment with their focus on U.S. labour data, global PMIs, and other key economic data. 'Gold may see limited downside as the dollar attempts a rebound, but ongoing geopolitical risks and a packed economic calendar could support bullion in the near term. Comex Gold finds support at $3,260/oz, with resistance near $3,400/oz. Market sentiment remains cautious, with attention turning to U.S. labour data, global PMIs, and central bank decisions from the ECB and RBI in the coming week,' said Jigar Trivedi. Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said that gold prices in India in the short term are expected to witness support at near ₹ 94,000, and resistance around the ₹ 97,000 level due to the tariff uncertainty and dollar-driven volatility. 'In the short term, gold remains caught between tariff-related uncertainty and dollar-driven volatility. Traders should expect continued range-bound movement with support near ₹ 94,000 and resistance around ₹ 97,000 in the domestic market,' said Jateen Trivedi. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
4 days ago
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for May 30, 2025 - should you buy or sell?
Gold price prediction: The precious metal, which closed at ₹96500 levels, is likely to face immediate selling pressure as global cues turn negative. (AI image) Gold price prediction today: Gold rate remains below its record peak, leaving investors uncertain about their trading decisions regarding the precious metal. Which price points should investors monitor? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: MCX Gold June 2025 contract is expected to open with a significant gap down following weakness in COMEX gold overnight. The precious metal, which closed at ₹96500 levels, is likely to face immediate selling pressure as global cues turn negative. This presents a strategic opportunity for intraday traders to capitalize on any pullback rallies. Current Technical Setup Previous Close: ₹96500 Expected Opening Range: ₹96100-96200 (gap down of 300-400 points) Key Technical Levels: EMA 8: ₹96350 (now acting as immediate resistance) EMA 21: ₹96100 (potential support turned resistance) RSI: Expected to open below 40 (oversold bounce likely) MACD: Bearish crossover confirmed with negative histogram Bollinger Bands: Price likely to test middle band support Sell-on-Rise Strategy: 96350-96400 Zone Strategic Rationale: The 96350-96400 zone represents a confluence of critical resistance factors: 1. EMA 8 Resistance: The 8-day moving average at 96350 will act as dynamic resistance 2. Gap Fill Resistance: Markets often struggle to fill gaps completely on first attempt 3. Previous Support Turned Resistance: Yesterday's support levels become today's resistance 4. Psychological Level: Round number resistance at 96400 Entry Parameters: Primary Sell Zone: ₹96350-96400 Ideal Entry: ₹96375 (middle of the resistance zone) Stop Loss: ₹96550 (above previous day's high) Target 1: ₹96000 (psychological support) Target 2: ₹95800 (next significant support) Target 3: ₹95550 (extended target for swing traders) Execution Strategy: 1. Wait for Gap Opening: Allow the market to digest the gap down 2. Monitor Recovery Attempt: Look for pullback rally toward resistance zone 3. Entry Confirmation: Bearish reversal candlestick pattern (shooting star, doji, bearish engulfing) RSI showing negative divergence near 50-55 levels Volume declining on the recovery attempt 4. Risk Management: Trail stop loss to breakeven once Target 1 is achieved Market Sentiment Analysis The overnight weakness in COMEX gold reflects: Dollar Strength: DXY showing resilience above key levels Yield Pressure: 10-year Treasury yields rising, reducing gold's appeal Risk Appetite: Improving equity markets reducing safe-haven demand Technical Breakdown: Key support levels breached in international markets Risk Factors to Monitor Geopolitical Developments: Any sudden safe-haven demand Dollar Reversal: Unexpected USD weakness Economic Data: US economic releases affecting gold sentiment COMEX Recovery: Any sharp recovery in international gold prices Alternative Scenario If gold manages to close the gap and sustain above ₹96500, it would negate the bearish thesis. In such case, traders should: Exit short positions immediately Reassess the technical picture Wait for fresh setup Conclusion The expected gap down in MCX gold creates an ideal setup for sell-on-rise strategy. The 96350-96400 resistance zone offers a favorable risk-reward ratio for intraday traders. However, strict adherence to stop losses is crucial given the volatile nature of precious metals. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hans India
26-05-2025
- Automotive
- Hans India
Indian stock market closes in green; auto and IT stocks gain
The Indian stock market closed in the green on Monday as buying was seen across the sectors, especially in the auto and IT verticals. Benchmark indices commenced the week on a buoyant note, extending their upward trajectory for the second consecutive session. At the end of trading, the Sensex was up 455.37 points or 0.56 per cent at 82,176.45 and the Nifty was up 148 points or 0.60 per cent at 25,001.15. The rise was led by auto and IT stocks. Both Nifty Auto and Nifty IT index closed with a gain of one per cent each. Apart from this, buying was seen in metal, realty, media, energy, commodity and PSE indices. Along with largecap, buying was also seen in midcap and smallcap. The Nifty Midcap 100 index was up 379.50 points, or 0.67 per cent, at 57,067.25, and the Nifty Smallcap 100 index was up 64.45 points, or 0.37 per cent, at 17,707.80. 'The index formed a bullish candle with a higher high and higher low signalling continuation of the up move for the second session in a row as strong buying demand from the 20 days EMA. The bias remains positive and dips if any in the coming sessions should be used as buying opportunity as we expect index to head higher towards 25,300 levels in the coming sessions,' said Bajaj Broking Research in its note. According to market watchers, the US decision to consider extending the deadline for imposing aggressive tariffs on EU, coupled with a decline in the dollar index, contributed to a rebound in the domestic equity markets. These developments suggest that trade negotiations are progressing constructively, which could help moderate market volatility. 'Additionally, the early onset of the southwest monsoon and a decline in domestic bond yields have encouraged investors to maintain their focus on riskier assets. The broader market outperformed, driven by expectations of increased rural consumption and a stronger Q4 GDP, following better-than-anticipated corporate earnings for the quarter,' informed Vinod Nair, Head of Research, Geojit Investments Limited. Rupee traded higher by 24 paise to close at 85.09 against the US dollar, supported by continued weakness in the dollar index, which fell to 98.93. 'A series of key US economic data lined up this week including Durable Goods Orders, FOMC Meeting Minutes, Q1 GDP, and the Core PCE Price Index are expected to keep USD-INR volatility elevated. The rupee is likely to remain within a range of 84.50 to 85.25 in the near term,' said Jateen Trivedi from LKP Securities.
News18
26-05-2025
- Business
- News18
Gold Price Today In India: Yellow Metal Steady; Check City-Wise Rates On May 25
Last Updated: Gold Price Today, May 25: Check latest prices in major metro cities including Delhi, Mumbai, Chennai and Kolkata. Gold Rates Today In India, May 25: Gold and silver prices remained steady in India amid global uncertainties. In Mumbai, the price of gold stood at Rs 89,900 per 10 grams for 22-carat and Rs 98,080 per 10 grams for 24-carat. On the MCX, gold was trading lower by 0.02 per cent to trade at Rs 96,400 per 10 grams and silver was lower by 0.06 per cent to trade at Rs 98,000 per kg. Analysts expect that in the coming sessions, gold is expected to trade in a broad range between Rs 95,000 and Rs 96,500. Key macroeconomic releases including U.S. Manufacturing and Services PMI data, along with New Home Sales figures, will be closely watched by traders for directional cues amid continued global volatility, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities Known for its unmatched purity, 24-carat gold continues to attract buyers seeking premium quality. Meanwhile, 22-carat gold, prized for its durability and timeless charm, remains a favourite among jewellery enthusiasts and investors alike, striking a balance between elegance and practicality.
