Gold - June 9, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded steady with COMEX spot gold prices were trading at $1893 per ounce on Wednesday. Gold August future contract at MCX were trading flat neat at Rs. 49120 per 10 grams by noon session.

Gold prices are trading in narrow range with dollar fluctuations as traders and investors are awaiting for fresh triggers from US inflation data. The lack of key economic data and comments from US treasury secretary on inflation has kept bullion price in range in the week so far.

We expect gold prices to trade sideways to up for the day with COMEX gold support at $1880 and resistance at $1910 per ounce. MCX Gold August support lies at Rs. 48800 and resistance at Rs.49500 per 10 gram.

Source : Equity Bulls

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