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Commodities
Gold - June 23, 2021 - Reliance Securities
Posted On : 2021-06-23 22:32:06( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading marginally in the green on Wednesday early afternoon trade in Asia after U.S. Federal Reserve Chairman Jerome Powell's reassuring message that interest rates will not rise too quickly based only on the fear of coming inflation.
However, a strengthening dollar curbed gains for the yellow metal.
Investors now await the Bank of England's policy decision, to be handed down on Thursday.
Technically, LBMA Gold Spot has bounced back from support zone $1760-$1770 levels and is trading on a positive note near $1780 levels. However, it holds a resistance near $1790-1808 level.
Domestic gold prices are trading marginally in the green on Wednesday early afternoon trade, tracking overseas prices.
Technically, MCX Gold August is holding a support near 100-DMA at 46900 levels above which could see an upside move 47200-47350 levels.
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