(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading marginally weak this Monday morning and early afternoon trade in Asia.
However, hopes that the U.S. would pass more stimulus measures which could kickstart the economic recovery from COVID-19 capped losses.
On the central bank front, the Federal Reserve will meet for its first policy meeting in 2021 on Tuesday, with its decision to be handed down on Wednesday.
Technically, LBMA Gold Spot took a resistance near $1858 levels and below which could see a downside move up to $1845-$1836 levels. Resistance at $1860-$1866 levels.
Domestic gold prices are trading marginally weak this Monday morning and early afternoon trade, tracking overseas prices.
Indian markets are shut tomorrow on account of Republic Day holiday.
Technically, MCX Gold April is holding a resistance near 49300 levels where its support is at 48900 levels. It could trade within these ranges for the rest of the session.
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