Gold - Aug 21, 2020 Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Gold prices traded lower with COMEX spot gold pared early gains traded below $1940 on Friday. Gold October future contract at MCX fell to Rs. 51820 by noon session with selling in international prices.

Gold prices witnessed selling on Friday with rebound in dollar index from day's lows despite weak job market data. Gold prices traded under pressure after sources showed US-China may resume trade talks in near term.

We expect gold prices to trade sideways to down with support at $1920 and resistance at $1960. MCX Gold October support at Rs. 51600, resistance lies at Rs. 52400.

Source : Equity Bulls

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