Gold - April 6, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded higher with COMEX spot gold prices were trading up at $1733 per ounce on Tuesday. Gold June future contract at MCX were trading marginal up at Rs. 45503 per 10 grams by noon session.

Gold prices were supported by weaker dollar and pandemic worries in Europe, Brazil and India. Gold prices have kept steady trading range with gold prices limited upside on stronger equity indices and positive US economic data.

We expect gold prices to trade sideways to up for the day with COMEX spot gold support lies at $1720 and resistance at $1760. MCX Gold June support lies at Rs. 45200 and resistance lies at Rs. 45800.

Source : Equity Bulls

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