MENU

Published on 29/09/2020 4:27:37 PM | Source: Motilal Oswal Financial Services Ltd

Gold prices edged higher, erasing early losses as the dollar retreated from a two-month peak By by Mr. Navneet Damani, Motilal Oswal

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Below is the Views On Gold prices edged higher, erasing early losses as the dollar retreated from a two-month peak By by Mr. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

“Gold prices edged higher, erasing early losses as the dollar retreated from a two-month peak ahead of the U.S. presidential debates scheduled later today and progress on the new coronavirus relief bill although a stock market rebound capped gains in bullion. President Donald Trump and former Vice President Joe Biden will square off in their first presidential debate later in the day, with five weeks to go until the Nov. 3 general election, based on the comments from both this could bring in volatility in the market. U.S. House of Representatives Speaker Nancy Pelosi that Democratic lawmakers unveiled a new, $2.2 trillion coronavirus relief bill, which she said was a compromise measure that reduces the costs of the economic aid.  Market participants will focus on the important consumer confidence data expected from US which will throw further light on the consumers perspective on the economic activity; if reported less than expectations it could support bullion's on lower levels. Broader trend on COMEX could be in the range of $1865- 2000 and on domestic front prices could hover in the range of Rs 50,050-50,500.”

 

Above views are of the author and not of the website kindly read disclaimer