Gold rate today: Triggers for yellow metal rally
Jateen Trivedi, VP Research Analyst — Commodity & Currency at LKP Securities, said, “The US Fed meeting outcome and India’s Union Budget 2025 are critical events, keeping participants cautious and focused on potential developments. These events will likely drive volatility in the gold market, with near-term support around ₹79,000 and resistance at ₹80,600 in domestic.”
Pointing towards the DeepSeek AI model fear, Anuj Gupta, Head of Commodity & Currency at HDFC Securities, said, “The recent outbreak of the DeepSeek AI model has fueled the safe-haven demand for gold as most of the assets have come under the sell-off heat. The US dollar index has slipped from 110 levels and is around the 107 mark as the market expects the announcement of a US Fed rate cut after Donald Trump’s lower interest rate jibe at the World Economic Forum, Davos.”
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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