Gold - Oct 12, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC securities

Gold prices traded firm with COMEX spot gold prices traded near $1925 on Monday. Gold October future contract at MCX were trading half a percent up to Rs. 51070 per 10 grams for the day supported by weaker rupee.

Gold prices traded firm on lack of progress in finalizing US aid package which has raised concerns over US economic recovery. We expect gold prices to trade sideways to up for the day with COMEX gold resistance at $1940, support at $1915. MCX Gold October support lies at Rs. 50800 with resistance at Rs. 51500.

Source : Equity Bulls

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