Gold rebounds after Trump’s victory as the dollar rally ends and the US Fed cuts interest rates, allowing the dollar to weaken and gold to rise.

Technically, momentum indicators point to a negative trend, with the Nifty closing below its short-term moving averages.

The Nifty 50 closed today’s session down by 1.16%, at 24,199 points, while the Sensex ended 1.03% lower, closing at 79,550 points compared to the previous close.

The gold is trading at $2,659 per ounce in the global market, whereas, in Kerala, the price of gold jewellery fell by Rs 1,320 to Rs 57,600.

Nifty closed above short-term moving averages, signaling bullish momentum; resistance at 24,500 could lead to further gains, with Bank Nifty also showing strength.

Optimism grows in India over US trade ties, with the market's future relying on foreign investment trends; gold prices rose in Kerala, but a further global decline is expected.

The Nifty concluded the trading session at 24,213.3, reflecting an increase of 1.12%; the Sensex traded within the range of 80,569.73 and 79,459.12, ultimately closing 1.13% higher at 79,476.63.

There’s speculation that Trump may impose heavy tariffs on Chinese products, which could boost exports from India and also expecting more companies will shift their operations from China to India.

From a technical perspective, momentum indicators still signal a negative trend as the Nifty remains  below its short- and medium-term moving averages.

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