Gold Outlook - May 4, 2020 - Hareesh V, Head Commodity Research at Geojit Financial Services

Gold continues to rise on escalating tension between the U.S - China over coronavirus, fears of global economic recession and hopes of more economic easing measures from central banks. Meanwhile, chances of easing coronavirus restrictions in many countries and a strong U.S dollar may restrict major gains in the commodity.

Technical Outlook (London spot): As long as prices stay above $1665 expect to continue the bullish outlook in the counter. An unexpected drop below the same would be an early signal of selling pressure for the day.

Source : Equity Bulls

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