Gold - March 25, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded steady with COMEX spot gold prices were trading near $1733 per ounce on Thursday keeping the narrow trading range. Gold April future contract at MCX were trading marginal down at Rs. 44780 per 10 grams by noon session.

Gold prices have kept firm trading range supported by pandemic worries with lockdown in Germany and other parts of the Europe. The delayed trade activities due to transport blockage in Suez Canal also boosted buying in safe haven assets taking toll on economic recovery.

We expect gold prices to trade sideways to down for the day with COMEX spot gold support lies at $1710 and resistance at $1745. MCX Gold April support lies at Rs. 44500 and resistance lies at Rs. 45000.

Source : Equity Bulls

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