Gold - March 1, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices bounced back this Monday morning and early afternoon trade in Asia taking support from falling 10-year yields and weaker dollar even as investor focus remained on the outlook for growth.

Meanwhile, markets also witnessed some covering of shorts after last week's sell-off.

For the intraday session we believe markets could look to cues from ISM Manufacturing PMI from the U.S. and CPI data from Germany today.

Technically, LBMA Gold Spot has bounced back from $1732 level and now could push prices up to $1765-$1770 levels. Support is at $1745-$1736 levels.

Domestic gold prices recovered this Monday morning and early afternoon trade, tracking overseas prices.

Technically, MCX Gold April is trading above 46000 levels and could witness some upside momentum up to 46150-46330 levels. Support is at 45800-45600 levels.

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Source : Equity Bulls

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