Gold - Feb 23, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded steady with COMEX spot gold prices were trading near $1808 per ounce on Tuesday. Gold April future contract at MCX were trading flat near Rs. 46836 per 10 grams by noon session.

Gold prices witnessed recovery on weaker dollar and pandemic worries. The traders and investors are focusing on US stimulus hopes and FED chairman Jerome Powell's testimony later tonight.

We expect gold prices to trade sideways to up with COMEX spot gold support lies at $1790 and resistance at $1820. MCX Gold April support lies at Rs. 46500 and resistance lies at Rs. 47200.

Source : Equity Bulls

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