Gold - Dec 7, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded lower with COMEX spot gold prices traded near $1836 on Monday. Gold December future contract at MCX were trading flat to Rs. 49165 per 10 grams on rupee fluctuation.

Gold prices traded under pressure on dollar recovery on vaccine hopes while expectations of COVID 19 aid package and more stimulus has kept down side limited in gold prices.

We expect gold prices to trade sideways to down with COMEX gold resistance at $1850, support at $1820. MCX Gold December support lies at Rs. 48800 with resistance at Rs.49500.

Source : Equity Bulls

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