Gold - Sep 23, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Gold prices traded lower with COMEX spot gold fell by 1% to $1874 on Wednesday. Gold October future contract at MCX were trading down by more than 1% to Rs. 49760 per 10 grams along with rupee appreciation.

Gold prices traded under pressure traded $1900 despite of global uncertainties. The stronger dollar has pressured bullion prices capping safe haven demand.

We expect gold prices to trade sideways to down with support at $1860 and resistance at $1900. MCX Gold October support at Rs. 49400, resistance lies at Rs. 50200.

Source : Equity Bulls

Keywords