Gold - Feb 22, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded higher with COMEX spot gold prices were trading near $1794 per ounce on Monday. Gold April future contract at MCX were trading up at Rs. 46285 per 10 grams by noon session.

Gold prices traded firm on dollar decline and weak equity indices on pandemic worries. Gold prices managed to hold support at $1760 per ounce rebounding on bargain buying.

We expect gold prices to trade sideways to up with COMEX spot gold support lies at $1760 and resistance at $1800. MCX Gold April support lies at Rs. 45900 and resistance lies at Rs. 46600.

Source : Equity Bulls

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