Mr. Prithviraj Kothari, MD CEO of RiddiSiddhi Bullions Limited (RSBL)
Gold prices touched $2145/oz in international markets and Rs 64000/10 gm in domestic markets on the reemergence of Geopolitical Tensions in the Middle East and on rising speculation that FED will start cutting interest rates from March 2024 after a series of rate hikes in last 20 months.
Gold prices have risen 15% in the last two months on this news and are in the overbought zone. Traders should be cautious and book long positions and we are likely to see a correction in prices now. $2000 (~ Rs 61000) is the strong support, where prices can consolidate again.
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2Honoured to be featured in The League Extraordinaire by The New Indian Express Group alongside 32 distinguished leaders. Grateful to Shri Eshwar B. Khandre and Shri Jagadish Shettar for the felicitation, and thankful to everyone who has supported my journey. 🙏✨
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