Gold - April 17, 2020 Outlook - Hareesh V, Head Commodity Research at Geojit Financial Services

Fears of a steep global recession and hopes of more quantitative easing programs from central banks continue to support gold's positive outlook. Meanwhile, a steady U.S dollar and moderate physical market activities are likely to limit major gains in the commodity.

Technical Outlook (London spot): Ongoing positive momentum may continue as long as prices stay above $1690. Immediate and minor resistance is seen at $1738, a direct break is required to take prices higher to $1758 followed by $1800 levels. Immediate downside turnaround point is seen at $1672.

Source : Equity Bulls

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