Gold - Sep 3, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded firm with COMEX spot gold prices were trading marginal up to $1813 per ounce on Friday. Gold October future contract at MCX were trading 0.26% up at Rs. 47115 per 10 grams by noon session.

Gold prices are trading in narrow trading range this week ahead of key US employment data. The US non-farm payroll data will be released today evening which may shake global markets causing some volatility. The dollar index was trading flat by noon on mixed global cues.

We expect gold prices to trade sideways to up with COMEX spot gold resistance at $1833 and support at $1795 per ounce. MCX Gold October support lies at Rs. 46800 and resistance at Rs.47300 per 10 gram.

Source : Equity Bulls

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