Gold Prices are trading marginally lower on profit booking - ICICI Bank : Treasury Research

Gold prices are trading marginally lower on profit booking following substantial gains yesterday. A stronger greenback also weighed on the prices. Meanwhile, prices remained under pressure due to further fall in SPDR Gold Trust holdings to 929.76 tonnes from 931.26 tonnes yesterday. Spot gold is currently trading at USD 1341.7.0/oz as compared to yesterday's close of USD 1345.2/oz. Technically gold is expected to trade in the range of 1325-1360/oz.

Source : Equity Bulls

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