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

Gold prices traded firm with COMEX spot gold prices were trading near $1782 per ounce on Friday. Gold August future contract at MCX were trading marginal up at Rs. 47025 per 10 grams by noon session.

Gold prices are fluctuating within a narrow range on mixed global cues with firm dollar. The lack of economic data has kept prices in range as traders and investors are awaiting for fresh triggers from US inflation data due later on the day.

We expect gold prices to trade sideways to up for the day with COMEX gold support at $1765 and resistance at $1800 per ounce. MCX Gold August support lies at Rs. 46800 and resistance at Rs.47200 per 10 gram.

Source : Equity Bulls

Keywords