Gold Outlook - May 14, 2020 - Hareesh V - Head Commodity Research, Geojit

US Federal Reserve's downbeat economic projection and hopes of further economic stimulus support gold's safe haven demand. Concerns over the next wave of virus outbreak will also assist the sentiments. Meanwhile, a steady dollar ahead of key U.S economic releases and limited physical market activities are likely to cap major gains.

Technical Outlook (London spot): As long as $1665 hold the downside, we can expect a positive bias to continue in the counter. However, a direct rise above $1735 would be an early signal of major rallies.

Source : Equity Bulls

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