Gold extends gains on safe haven demand

MCX Gold February futures is likely to appreciate Rs 139,000/10g

AHMEDABAD, 6 JANUARY: Gold prices rose above $4,450/oz marking a third consecutive session of gains, driven by increased demand for safe-haven assets amid political turmoil in Venezuela. Bullion surged 2.7% on Monday following the US military operation in Venezuela over the weekend that led to the removal of President Nicolas Maduro. President Donald Trump said on Sunday that Washington would temporarily “run” Venezuela and warned of a second strike if the interim government fails to comply with US demands. Investors are also closely monitoring upcoming US labor market data, particularly the December jobs report due on Friday, for further clues on the Federal Reserve’s policy outlook. Meanwhile, Minneapolis Fed President Neel Kashkari on Monday highlighted concerns over persistent inflation and a potential rise in unemployment, while noting that interest rates may be close to a neutral level. MCX Gold February futures is likely to appreciate Rs 139,000/10g as the trend is positive in the world markets.- By Mr. Jigar Trivedi, Senior Research Analyst at Reliance Securities

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(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ/ ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)