Gold - August 2, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading marginally weaker on Monday early afternoon trade in Asia despite weak dollar and easing benchmark bond yields as investors awaited the latest job report this week.

The data will give investors more insight into the timeline for the U.S. Federal Reserve to begin asset tapering.

Technically, LBMA Gold below $1818 level could see a Bearish momentum up to $1805-$1795 levels. Resistance is at $1812-$1820 levels.

Domestic gold prices are trading marginally weaker on Monday early afternoon trade, tracking overseas prices.

Technically, MCX Gold October is holding resistance near 48000 and below the level could pull prices up to 47700-47500 levels. Resistance is at 47950-48100 levels.

In other precious metals, international silver prices are trading flat on Monday early afternoon trade in Asia.

Downside was capped as the dollar was weak this Monday early afternoon trade.

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Source : Equity Bulls

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