Gold - Sep 11, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Gold prices traded steady with COMEX spot gold prices kept a narrow trading range near $1943 on Friday. Gold October future contract at MCX were trading down to Rs. 51416 per 10 grams for the day.

Gold prices were trading under pressure on Friday on mixed global cues despite selling in equity indices and weaker dollar. The uncertainty over the US stimulus package and dovish stance from ECB may kept downside limited in gold prices.

We expect gold prices to trade sideways to up with support at $1910 and resistance at $1960. MCX Gold October support at Rs. 50900, resistance lies at Rs. 51700.

Source : Equity Bulls

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