Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading marginally weaker on Monday early afternoon trade in Asia despite weak dollar and easing benchmark bond yields as investors awaited the latest job report this week.
The data will give investors more insight into the timeline for the U.S. Federal Reserve to begin asset tapering.
Technically, LBMA Gold below $1818 level could see a Bearish momentum up to $1805-$1795 levels. Resistance is at $1812-$1820 levels.
Domestic gold prices are trading marginally weaker on Monday early afternoon trade, tracking overseas prices.
Technically, MCX Gold October is holding resistance near 48000 and below the level could pull prices up to 47700-47500 levels. Resistance is at 47950-48100 levels.
In other precious metals, international silver prices are trading flat on Monday early afternoon trade in Asia.
Downside was capped as the dollar was weak this Monday early afternoon trade.
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.