GOLD - June 3, 2020 - Angel Broking

Mr. Anuj Gupta DVP Commodities and Currencies Research, Angel Broking Ltd.

"Yesterday gold prices were corrected by 0.53% from higher levels and touched the low of Rs 46441 levels. Some profit booking seems in gold prices as expectation of more easing and stimulous packages may announce by the major economies. Although the recovery in global equity market curb the gold prices. Safe heaven demand may fade out so we are expecting some more profit booking in Gold prices. Traders can go for sell in Gold prices around Rs. 46700 to 46800 levels, with the stop loss of Rs 47100, and for the target of Rs. 46000 levels. In international market gold may test $1710 soon."

Source : Equity Bulls

Keywords