Gold Update - April 27, 200 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Gold prices traded steady on Monday with international spot gold traded marginal down near $1720 with range bound movement.

Gold futures at MCX for June contract traded down by nearly Rs. 30 to Rs. 46497 witnessing selling pressure from rupee appreciation.

Gold prices kept upside limited on Monday after Bank of Japan eases its monetary policy further by announcing to but more govt bonds, corporate bonds and commercial papers.

Gold prices have kept upper trading range awaiting fresh cues. The record buying from gold ETFs and central banks may support positive trade in gold for medium term.

Source : Equity Bulls

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