Upbeat sentiments in prices likely to continue due to a weak US greenback and dovish comments from the US Federal Reserve - Geojit Financial
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Outlook
International Gold: Upbeat sentiments in prices likely to continue due to a weak US greenback and dovish comments from the US Federal Reserve. Reports of an increased physical demand from China and concerns over new virus cases also offering lower level support to prices. Meanwhile, a strong equities and optimism over global economic sentiment likely to limit its safe haven status in near future.
Domestic Gold: Though international prices continue to stary positive, a strong Indian rupee may restrict major rallies in the counter.
Technical View: London Spot: Expect a choppy trade inside $1835-1760 levels initially and breaking any of the sides would suggest fresh direction to the commodity.
MCX: While prices stay above Rs 47500 expect positive sentiment to continue in near further. Meanwhile, a close below Rs 46000 is a short term weak signal.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
