Gold - April 15, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded higher with COMEX spot gold prices were trading half a percent up at $1745 per ounce on Thursday. Gold June future contract at MCX were trading up at Rs. 46805 per 10 grams by noon session.

Gold prices traded higher on dollar decline which fell to three week lows despite of some uptick in bond yields. The higher inflation concerns and worries over rising virus cases have supported buying in the yellow metal.

We expect gold prices to trade sideways to up for the day with COMEX spot gold support lies at $1730 and resistance at $1760. MCX Gold June support lies at Rs. 46500 and resistance lies at Rs. 47100.

Source : Equity Bulls

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