Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold gave up gains and is trading marginally in the red this Thursday in early afternoon trade in Asia despite weak dollar and easing bond yields.
Downside remained capped amid dovish Fed statement yesterday and U.S. President Joe Biden's sweeping $1.8 trillion package plan for families and education in his first speech to Congress.
Markets now could track the release of the U.S. GDP and jobless claims data due later.
Technically, LBMA Gold Spot resistances are at $1788 and $1795. Supports are at $1776 and $1768 levels.
Domestic gold prices are trading marginally in the red this Thursday, tracking weak overseas prices and stronger Rupee.
Technically, MCX Gold June resistances are at 47150 and 47350. Supports are at 46900 and 46750.
Strategy for Gold June for the rest of the session will be buying at 47000 with a stoploss at 46900 and a target at 47300.
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