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

Gold prices traded mixed with COMEX spot gold prices were trading flat near $1864 per ounce on Tuesday. Gold August future contract at MCX were trading marginal up at Rs. 48554 per 10 grams by noon session.

Gold prices fluctuated over FED speculation as market is awaiting for signal from US FED of any tapering or schedule of tapering bond buying program. The dollar index fell from one month highs limiting losses in gold.

We expect gold prices to trade sideways to up for the day with COMEX gold support at $1850 and resistance at $1880 per ounce. MCX Gold August support lies at Rs. 48100 and resistance at Rs.48800 per 10 gram.

Source : Equity Bulls

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