Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading flat to marginally higher on Wednesday early afternoon trade in Asia ahead of a much-awaited U.S. Federal Reserve policy decision.
The dollar and the benchmark steadied on Wednesday early afternoon trade in Asia.
Investors will be on the lookout for clues as to when the central bank will start tapering assets and any talk on the recent spike in inflation.
Technically, LBMA Gold Spot could see a downside pressure up to $1850-$1841 levels. Resistance is at $1861-$1874 levels.
Domestic gold prices are trading flat to marginally higher on Wednesday early afternoon trade, tracking overseas prices.
Technically, MCX Gold August below 48500 level could see a Bearish momentum where further could take 48350-48100 levels. Resistance is at 48600-48800 levels.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.