Gold - Feb 23, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading flat in a choppy trading session this Tuesday morning and early afternoon trade in Asia.

Reflation trade, weak Dollar and falling benchmark U.S. treasury yields initially supported prices.

However, investors remain cautious ahead of the Fed Chairman's testimony in front of the U.S. Congress on the Semi-annual Monetary Report later tonight.

Technically, LBMA Gold Spot is trading above $1800 levels trading on a positive note where further could see $1824-$1832 levels. Support is at $$1805-$1793 levels.

Domestic gold prices are trading marginally in the red in a choppy trading session this Tuesday morning and early afternoon trade.

Technically, MCX Gold April remained above 46700 indicating further upside movement upto 47100-47250 levels. Support is at 46750-46600 levels.

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Source : Equity Bulls

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