Gold - May 15, 2020 - HDFC Securities

Mr. Tapan Patel- Senior Analyst (Commodities), HDFC securities

Gold prices traded higher for the fourth day on the trot with international spot gold prices traded near $1736 on Friday.

Gold futures at MCX for June rallied by Rs. 233 to Rs. 46887 supported by overnight rally in international gold prices.

Gold prices witnessed safe haven buying on gloomy economic outlook. The weak job numbers from US and expectations of more stimulus triggered buying in precious metals.

We expect prices to trade up with MCX Gold June support at Rs. 46500, resistance at Rs. 47100.

Source : Equity Bulls

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