(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold was marginally down on Monday morning and early afternoon trade in Asia as the dollar and U.S. Treasury yields continued to remain elevated.
Meanwhile, European Central Bank President Christine Lagarde will speak at an online conference on Wednesday and Federal Reserve Chairman Jerome Powell will take part in a webinar on Thursday.
Technically, LBMA Gold Spot found support near $1832-$1818 levels and has consolidated this Monday. Resistance is at $1857-$1865 levels.
Domestic gold was up on Monday morning and early afternoon trade and bucked the overseas trend probably on the back of weak Rupee this Monday.
Technically, MCX Gold February support zones remain at 48800-48500 levels and prices rebounded from the support zone and are trading with modest gains. Resistance is at 49150-49300 levels.
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