Gold - Sep 7, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold prices traded lower with COMEX spot gold prices were trading 0.47% down to $1814 per ounce on Tuesday. Gold October future contract at MCX were trading 0.12% lower at Rs. 47366 per 10 grams by noon session.

Gold prices traded weak on Tuesday following dollar recovery. The mixed global cues over Fed tapering doubts has pressured gold prices with stronger dollar. The dollar index was trading around 0.27% up in the morning trade.

We expect gold prices to trade sideways to down with COMEX spot gold resistance at $1833 and support at $1805 per ounce. MCX Gold October support lies at Rs. 47000 and resistance at Rs.47600 per 10 gram.

Source : Equity Bulls

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