Gold outlook - April 20, 2020 - Hareesh V, Head Commodity Research at Geojit Financial Services

A strong dollar and optimism that top economies will restart activities after the lockdown may hit the demand for the commodity. However, fears of a global recession and hopes of more quantitative easing programs from central banks continue to support the yellow metal's short term positive outlook.

Technical Outlook (London spot): As long as the prices hold the support of $1640 expect recovery upticks to continue through the day. However, it is required to sustain above $1718 to trigger major rallies. An unexpected drop below $1638 would take prices lower to $1600 or more.

Source : Equity Bulls

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