Gold - June 4, 2020 - HDFC Securities

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

Gold prices traded steady on Thursday with international spot gold prices witnessed marginal recovery at $1706 for the day.

Gold futures at MCX for August pared early losses and traded positive by noon session to Rs. 46345 with recovery in global gold and weaker rupee which depreciated by 11 paisa against the dollar during the day.

Gold prices earlier witnessed selling on strong equity indices over optimism over economic recovery.

We expect gold prices to trade sideways to down with MCX Gold August support at Rs. 45900, resistance at Rs. 46700.

Source : Equity Bulls

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