Gold prices remain positive and the commodity has achieved record high prices this week amid rising geopolitical tensions, and declining interest rates.
Markets experienced a volatile session but managed to extend their upward trend, with a sharp rally in the last half hour pushing Nifty to close near the day's high at 26,004.15.
Gold prices have eased after the recent rally as the market prepares for the upcoming CB Consumer number assessments. The charts remain positive with support near 74400 with resistance close to the 74800 level.
Gold prices hit a record high of $2,600 in a searing rally, as the prospect of more US interest rate cuts burnished its appeal amid global uncertainties. Support is near 73600 with resistance close to the 74250 level.
The markets ended almost unchanged in a volatile expiry session, continuing the recent trend. After a gap-up opening, the Nifty index moved higher during the first hour, but profit booking in heavyweight stocks across sectors erased those gains
Gold prices climbed 1% today after the U.S. The Federal Reserve embarked on an easing cycle by slashing interest rates and powering bullion to all-time highs.
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