Gold and Silver - August 31, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading marginally in the green on Tuesday afternoon trade in Asia supported by a weaker dollar.

However, investors could remain on the side lines ahead of the U.S. economic data due later in the week to gains clues to when the U.S. Federal Reserve will begin asset tapering.

Technically, LBMA Gold above $1810 level could see a bullish momentum up to $1825-$1840 levels. Support is at $1805-$1790 levels.

Domestic gold prices are also trading in the green on Tuesday afternoon trade, tracking overseas prices.

Technically, MCX Gold October could see a bullish momentum above 47000 levels resistance is at 47500-47800 levels. Support is at 47100-46900 levels.

International silver prices are trading in the green on Tuesday afternoon trade in Asia supported by a weaker dollar and stronger gold.

Technically, LBMA Silver above $24.00 level could see $24.30-$24.70 levels. Support is at $23.40-$23.80 levels.

Domestic silver prices are also trading in the green on Tuesday afternoon trade, tracking overseas prices.

Technically, MCX Silver September above 63000 level could see 63900-64800 levels. Resistance is at 63000-62100 levels.

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Source : Equity Bulls

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