Gold - July 19, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading in the red on Monday early afternoon trade in Asia as the U.S Dollar continued to move higher this Monday early afternoon trade.

However, easing U.S. Treasury yields and weak global equities in addition amid concerns over the rising number of COVID-19 cases globally and its impact on the global economic recovery capped losses for the yellow metal.

Technically, LBMA Gold has given a sharp correction where it holds a support near $1798-$1789 levels. Resistance is at $1810-$1822 levels.

Domestic gold prices are trading in the red on Monday early afternoon trade, tracking overseas prices.

Technically, MCX Gold August below 48000 could see 47800-47600 levels. Resistance is at 48100-48300 levels.

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Source : Equity Bulls

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