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Published on 20/04/2020 5:44:31 PM | Source: Motilal Oswal Financial Securities Ltd

Daily Gold Commentary by Mr. Navneet Damani, Motilal Oswal

Posted in Commodities Reports| #Expert Views #Commodity #Navneet Damani

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Below is the Views On Daily Gold Commentary by Mr. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

“Gold fell to the lowest level in a week as dollar firmed and as investors remained optimistic after President Trump’s new guidelines to re-open the U.S. economy and encouraging early data related to a potential COVID-19 treatment drove market participants towards riskier assets. Economic calendar is muted for today although central banks actions and updates on the COVID-19 will continue to give direction to  metal prices. On the domestic front, RBI introduced sovereign gold bonds wherein the investors will get an interest rate of 2.5% per annum. Bonds will be issued in six tranches for the next six months. Broader trend on Comex could be $1,650-1,705 and on domestic front prices could hover in the range of ₹45,000- 45,900.”

 

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