Gold - July 14, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded firm with COMEX spot gold prices were trading up near $1812 per ounce on Wednesday. Gold August future contract at MCX were marginal up at Rs. 47980 per 10 grams by noon session.

Gold prices kept firm trading on weaker dollar and inflation worries. Gold prices gained after US CPI numbers climbed higher than market forecast. The market players are now awaiting for FED Chairman Testimony to find fresh triggers.

We expect gold prices to trade sideways to up for the day with COMEX gold support at $1795 and resistance at $1820 per ounce. MCX Gold August support lies at Rs. 47700 and resistance at Rs.48200 per 10 gram.

Source : Equity Bulls

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