Gold trades with a positive tone as the impact of the previous day’s weak U.S. Job Openings and Labor Turnover Survey data release, which boosted hopes for a sizable Federal Reserve interest-rate cut in September.
Gold markets are attempting for a pull back as the investors and fund houses position themselves ahead of the evening releases. Support is near 70900 with resistance close to the 71700 level.
The markets traded subdued and ended the day nearly unchanged, continuing the ongoing gradual uptrend. After a flat opening, the Nifty index fluctuated within a narrow range throughout the session, eventually closing at 25,279.85.
Gold markets are trending lower as the market turns cautious ahead of the PMI data. The precious metal is likely to witness a volatile week with a number of key employment data scheduled
Gold futures are broadly flat on $2,528.50 a troy ounce, holding close to their all-time record of $2,570.40 set in Aug. 20.
2 min
About Religare Broking Podcast
From the publisher's feed
Welcome to our Podcast series wherein our Research Desk shares daily and weekly market updates to apprise you on the equity and commodity market trends.
Start your investment journey today!
Click https://bit.ly/rblaccount to open a Free Demat and Trading Account.
For more updates, follow our reports and recommendations. You can also contact your relationship manager or nearest branch. Please read the disclaimer document available on religareonline.com/disclaimer before trading or investing.