Gold - Jan 22, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading down this Friday morning and early afternoon trade in Asia as U.S. Treasury yields gained this Friday.

However, downside was capped aided by a weaker dollar and further U.S. stimulus bets.

Prices also came under pressure after upbeat data from the labour and housing markets this week.

Technically, LBMA Gold Spot took a support near 21-Daily Moving Average which is placed at $1859 levels but below could see a sideways to marginal downside momentum up to $1853-$1839 levels. Resistance is at $1869-$1875 levels.

Domestic gold prices are trading down this Friday morning and early afternoon trade, tracking weak overseas prices.

Technically, MCX Gold February holds a resistance of 200-Daily Moving Average at 49580 levels and below which could see downside 49300-49000 levels. Resistance is at 49700-49900 levels.

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Source : Equity Bulls

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