Gold - Aug 18, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded marginal up with COMEX spot gold prices traded near $1787 per ounce on Wednesday. Gold October future contract at MCX were trading flat near at Rs. 47270 per 10 grams by noon session.

Gold prices fluctuated in upper trading range on mixed global cues over rising worries over fast spreading Delta variant and weak data. The traders and investors are awaiting for US FED minutes to gauge any signs of tapering of assets purchase.

We expect gold prices to trade sideways to up with COMEX spot gold resistance at $1810 and support at $1770 per ounce. MCX Gold October support lies at Rs. 46900 and resistance at Rs.47500 per 10 gram.

Source : Equity Bulls

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