(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading flat in a choppy trading session this Tuesday morning and early afternoon trade in Asia.
Reflation trade, weak Dollar and falling benchmark U.S. treasury yields initially supported prices.
However, investors remain cautious ahead of the Fed Chairman's testimony in front of the U.S. Congress on the Semi-annual Monetary Report later tonight.
Technically, LBMA Gold Spot is trading above $1800 levels trading on a positive note where further could see $1824-$1832 levels. Support is at $$1805-$1793 levels.
Domestic gold prices are trading marginally in the red in a choppy trading session this Tuesday morning and early afternoon trade.
Technically, MCX Gold April remained above 46700 indicating further upside movement upto 47100-47250 levels. Support is at 46750-46600 levels.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.