(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International bullion prices are trading flat in quiet trade this Friday afternoon in Asian trade.
Downside was capped amid the risk-off mood after AstraZeneca's coronavirus vaccine efficacy came under scrutiny and the weak U.S. Dollar also kept downside limited.
Market conditions are likely to remain thin, as the US markets operate partially amid the Thanksgiving holiday mood.
Technically, LBMA Gold Spot is trading on flat note where $1800 is holding support & $1817-$1820 is holding a resistance. Gold is likely to continue consolidating for the rest of the session.
LBMA Silver Spot is trading on a negative note where prices retreated from $24.00 levels. However, prices will trade in sideways direction if it holds a support near $23.00 levels. It could trade in a range of $22.45-$23.88 levels.
MCX Gold February is trading on a muted note where it would trade in a range of 48300-48700 levels for the rest of the session.
MCX Silver March could trade in a range of 60700-62400 for the rest of the session.
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