US Stock Reports, Quotes and News
Gold Price Today: Gold prices on MCX for June futures opened flat at Rs 73,100 amid rate cut hopes. MCX July silver contracts rose. Dollar weakened on possible Fed rate cuts after an inflation report. Spot gold in the U.S. markets rose to $2,388.10. Neha Quereshi\’s analysis showed a bullish trend with support and resistance levels.
Gold prices surged on Akshaya Tritiya, breaking the Rs 72,000 mark, while silver also saw gains. US data hinting at Fed rate cuts bolstered the precious metals market.
In the US, spot gold rose 1% to $2,324.94 per ounce by 2:00 p.m. ET (1800 GMT). U.S. gold futures for June delivery settled 0.9% higher at $2,331.2 per ounce.
Gold prices were slightly down in recent trading, and market participants are now looking forward to more inflation data expected to come out soon.
Naveen KR expects robust stock market performance in FY25 if election outcome aligns with public opinion. He is bullish on gold and PSU stocks, skeptical about market return moderation despite high valuations and strong earnings growth. He believes that the business fundamentals for mid and small cap companies are pretty strong.
Gold and Silver commodity mutual funds have outperformed equity funds in the latest month. Notable performers include Invesco India Gold ETF FoF and Aditya Birla SL Gold Fund. Silver funds led by UTI Silver ETF FoF showed significant returns.
Vipul Bhowar\’s insights suggest continued market growth driven by government spending and private investment. Factors like inflation, oil prices, and equity market reactions play crucial roles in shaping India\’s economic landscape. Bhowar also says: \”The rise in SIPs shows a strong focus on retail investor growth, more so a shift towards small cities that contribute to the industry growth and showcase a broader financialisation of savings in smaller towns.\”
Aditya Arora provides insights on stock recommendations, including ONGC and Thermax. He also advises on Senco Gold\’s strong performance, the bullish outlook on the metals pack, trading opportunities in Vodafone, and key levels for Nifty and Bank Nifty. Arora says: \”The metal index is trading at 9002 odd levels. I still think it is a buy; the upside which I see is 9500 to 9600.\”