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Gold - Sep 14, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Posted On: 2020-09-14 04:41:20 (Time Zone: Arizona, USA)


Gold prices traded steady with COMEX spot gold prices kept a narrow trading range near $1945 on Monday. Gold October future contract at MCX were trading up to Rs. 51480 per 10 grams for the day.

Gold prices were trading firm on mixed global cues on dollar weakness and global economic growth concerns. The uncertainty over BREXIT withdrawal, US - China tensions and rising virus cases has kept risk premium high in the gold prices on Monday.

We expect gold prices to trade sideways to up with support at $1910 and resistance at $1970. MCX Gold October support at Rs. 50900, resistance lies at Rs. 51800.


Source: Equity Bulls

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