Gold - Feb 15, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded marginal down with COMEX spot gold prices were trading near $1819 per ounce on Monday. Gold April future contract at MCX were trading lower at Rs. 47313 per 10 grams by noon session.

Gold prices capped upside on dollar recovery and strong Asian equity indices. The US stimulus hopes and spark in Middle East tensions may support gold prices to limit downside. The traders and invests are awaiting for fresh triggers to get bullish momentum in yellow metal.

We expect gold prices to trade sideways to down with COMEX spot gold support lies at $1800 and resistance at $1830. MCX Gold April support lies at Rs. 47100 and resistance lies at Rs. 47600.

Source : Equity Bulls

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