Gold - 29th Sept 2020 - HDFC Securities

Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Gold prices traded higher with COMEX spot gold prices traded above $1880 to $1882 on Tuesday. Gold October future contract at MCX were trading half a percent up to Rs. 50409 per 10 grams.

Gold prices witnessed sharp rebound from key support levels amid dollar decline. The dollar index traded weak ahead of US presidential election debate and uncertainty over US stimulus package. We expect gold prices to trade sideways to up with COMEX gold support at $1850 and resistance at $1900. MCX Gold support lies at Rs. 49800, resistance at Rs. 50900.

Source : Equity Bulls

Keywords