Gold - Sep 15, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Gold prices traded strong with COMEX spot gold traded near $1963 on Tuesday. Gold October future contract at MCX were trading half a percent up to Rs. 51994 per 10 grams for the day.

Gold prices traded higher on broad dollar weakness ahead of US FOMC meet and global economic growth concerns. The uncertainty over BREXIT withdrawal, US- China tensions and rising virus cases has kept risk premium high in precious metals.

We expect gold prices to trade up with support at $1930 and resistance at $2000. MCX Gold October support at Rs. 51400, resistance lies at Rs. 52200/52500.

Source : Equity Bulls

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