Gold - July 15, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading with small gains on Thursday early afternoon trade in Asia extending gains from Wednesday as the U.S. Federal Reserve Chair Jerome Powell continued to remain accommodative.

Powell's second day of testimony will take place later in the day. However, nothing new is expected to change from the previous statement.

Apart from the statement, markets could also look to cues from jobless claims data tonight.

Technically, LBMA Gold has given a sharp breakout above 200-DMA which is placed at $1825 level will continue its bullish momentum up to $1834-$1842 levels. Support is at $1820-$1813 levels.

Domestic gold prices are trading with small gains on Thursday early afternoon trade, tracking overseas prices.

Technically, MCX Gold August has crossed above 200-DMA which is placed at 48200 levels with increased in volume activity where if sustain could see upside momentum up to 48570-48800 levels.

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Source : Equity Bulls

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