Views on Gold by Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd.
Below the Views on Gold by Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd.
"Gold prices have started the week slightly lower on profit-booking, weighed by a stronger dollar against major currencies, and easing U.S. China trade tensions. However, we see limited downside in the bullion as the underlying bias still remains positive with focus on U.S. trade negotiations with global economies, especially China.
Adding to that would be key important data to watch later in the week, staring from U.S. consumer confidence/ first-quarter GDP/ PCR price index/ to NFP. An d in the global market focus well be on GDP from Germany/ Euro zone/ manufacturing PMI data from across regions/ BoJ policy meeting, etc.
For the week... Gold holds strong supports around 94000/ 92700 and resistance holds at 97800/ 99500."
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