Gold - Dec 31, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded steady with COMEX spot gold prices kept upper trading range near $1892 on Thursday. Gold February future contract at MCX were trading up to Rs. 50140 per 10 grams with recovery in COMEX Gold prices.

Gold prices have kept range bound trading during the week on lack of important economic data and mixed global cues. The worries over economic recovery on pandemic fears has supported bullion prices to trade firm limiting downside.

We expect gold prices to trade sideways to up with COMEX gold resistance at $1910, support at $1880. MCX Gold February support lies at Rs. 49800 with resistance at Rs.50400.

Source : Equity Bulls

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