🟡 Gold Prices Turn Volatile on MCX Amid Profit Booking
Gold prices on MCX turned volatile as traders booked profits amid a stronger US dollar. Despite short-term pressure, analysts say the broader outlook for gold remains supportive.
Key Facts:
📉 Profit booking impact: Recent highs triggered selling, causing short-term volatility in MCX gold.
💵 Dollar strength: A firmer US dollar pressured gold prices in the near term.
🛡️ Safe-haven demand: Long-term support remains due to global uncertainty and central bank buying.
Expert Insight:
Short-term corrections are possible, but dips are still viewed as buying opportunities for medium- to long-term investors as the overall gold trend stays constructive.
