Outlook on Gold - April 15, 2020 - Hareesh V, Head Commodity Research at Geojit Financial Services

Gold's bullish outlook is likely to continue due to fears of a possible global recession and large scale quantitative easing programs taken by various central banks. Investors will continue to seek shelter in safe assets like gold to protect from the negative economic impact of coronavirus pandemic. Conversely, limited physical market activities and a strong dollar may put downside pressure on prices.

Technical Outlook (London spot): Bullish sentiments will continue as long as prices stay above $1702. Immediate resistance is seen at $1746, and a direct break above the same would take prices higher to $1758 followed by $1800 levels. Immediate downside turnaround point is seen at $1672.

Source : Equity Bulls

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