Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading higher on Monday early afternoon trade in Asia supported by a weaker dollar and continuing concerns about the spread of COVID-19 globally and its impact on the economic recovery.
Investors are now looking to the U.S. Federal Reserve's Jackson Hole symposium, due to take place between Aug. 26 and Aug. 28, for clues on the central bank's timeline for asset tapering and interest.
Before that today, PMI data from Europe and the U.S. could move the markets.
Technically, LBMA Gold is trading below 21-Daily Moving Average which is placed at $1785 levels below which could see downside momentum $1775-$1768 levels. Resistance is at $1787-$$1795 levels.
Domestic gold and silver prices could start the Monday on a flat note this Monday morning, tracking overseas prices.
Domestic gold prices are trading higher on Monday early afternoon trade, tracking overseas prices.
Technically, MCX Gold October could see sideways momentum where support is at 47200-47000 levels. Resistance is at 47350-47500 levels.
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