Posted On:
2021-01-18 07:30:43
(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices rebounded from the lows of the session this Monday morning and early afternoon trade in Asia supported by prospects of a massive U.S. coronavirus relief aid.
The U.S. Dollar was trading marginally in the green this Monday morning and early afternoon trade in Asia and capped upside.
U.S. Markets are shut on Monday on account of Martin Luther King, Jr. Day.
Technically, LBMA Gold Spot has bounced back from $1802 where its resume above $1835 indicating a bullish momentum up to $1842-$1850 levels. Support is at $1818-$1802 levels.
Domestic gold prices were trading firm on Monday morning and early afternoon trade, tracking overseas prices.
Technically, MCX Gold February could give a bullish momentum above 48900 up to 49200-49500 levels. Support is at 48600-48400 levels.
Strategy for Gold February Buy near 48800-48850 SL 48600 TGT 49300. Conditions apply.
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