Gold prices rise by RS 6,500 in the past 1 month to reach the record high of RS 1.07.807/10G. Time to make a profit?

Golden Oktoberfutures are strongly Gerally, and almost RS 6,500 rises in the last month to achieve a record high of RS 1.07.807 per 10 grams on the Multi Commodity Exchange (MCX) on Friday.

Despite taking recent profit, the increase comes before the US’s most important employment data, because the worldwide uncertainties and the demand of the Central Bank continue to support yellow metal strong support.

Gold and Silver witnessed profit services of record levels prior to the American labor report. Investors closed the profits in both metals before the release of the non-agricultural wage data.

While the dollar index continues to float above 98 Mark, the global uncertainties arising from US trade rates and continuing central bank purchase are support for precious metals.

The expected tariff reductions of the Federal Reserve during the upcoming meeting have also added to the Bullish Sentiment, because lower interest rates tend to make non-return assets such as gold more attractive.

JATEEN Trivedi, VP Research Analyst-Commodity and Currency, LKP Securities, Said, “Investors Remain Focused on the Fed’s September Meeting where Rate Cuts are anticipated, While On On Ongoing Tariff Uncertainties are Facte-Haven Demand. Tay-Haven Demand. Bullish Structure. ”He Believes That the Broader Setup for Gold Still Remains Positive As PRICES SUSTAIN ABOVE RS 1,06,450, with Strength Expected to expand to resistance near RS 1.07,260. “A decisive break above could open the path for further profit, while only a fall under RS ​​1.06,150 would signal weakness,” he added.

Analysts remain carefully optimistic because Gold is traded high in the vicinity of his lifelong. Strong demand for central bank, expectations of a reduction in the American Federal Reserve and geopolitical uncertainties support the rally.

In its own country, Momentum is driven on the Multi -Commodity exchange through investor flows in goldfutures, with technical levels providing further support for prices.

As long as the prices above crucial thresholds support, analysts believe that the wider structure remains bullish, with resistance levels in sight that could, if broken, pave the way for new record heights.

((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)