Gold continues to remain elevated amid rise in the safe haven demand

Ahmedabad, 5 JANUARY: Gold prices rose over 1% above $4,400 per ounce on Monday, extending Friday’s gains as heightened geopolitical tensions following the US ouster of Venezuelan President Nicolas Maduro drove investors toward safe-haven assets.President Trump said that Washington would temporarily “run” Venezuela, after ordering a large-scale military operation that led to Maduro’s capture, deepening uncertainty over the country’s future leadership.On Sunday, Secretary of State Marco Rubio suggested the US would push for change through an oil blockade but would not directly govern the country.Meanwhile, investors are closely watching key US indicators this week, including ISM Manufacturing data, ADP employment figures, JOLTS job openings, and non-farm payrolls report, which could offer more clues on the path of US interest rates.Gold ended the previous year with its strongest annual gain since 1979, underpinned by strong haven demand, US monetary easing, robust central bank purchases, and ETF inflows.MCX Gold February futures, in tandem with the global trends, is likely to stay positive and Rs 138,000/10g is resistance for intraday today.

By Mr. Jigar Trivedi, Senior Research Analyst at Reliance Securities

(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)

(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.)