Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International spot gold prices are subdued in lackluster trade this Wednesday afternoon trade in Asia as investors await fresh cues in the form of CPI data due on Thursday.
The dollar and the U.S. Treasury yields also eased this Wednesday afternoon trade in Asia and kept downside limited.
Investors looked ahead to U.S. inflation data that could influence the Federal Reserve's timeline to taper monetary support.
Technically, LBMA Gold Spot is struggling to sustain above $1900 level and below which could trade on Bearish note where support is at $1885-$1877 levels. Resistance is at $1899-$1910 levels.
Domestic gold prices are also flat in lackluster trade this Wednesday afternoon trade.
Technically, MCX Gold August supports are at 48850 and 48700. Resistances are at 49100 and 49200.
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