Gold:-
Gold
pared some of its gains as data showing the biggest pick-up in U.S. consumer
prices in 2-1/2 years lifted the dollar and U.S. Treasury yields. Federal
Reserve Chair Janet Yellen advocated lifting U.S. interest rates gradually. The
U.S. central bank should be able to raise rates "in a gradual and patient
manner," Dallas Fed President Robert Kaplan said. We saw a good selling
from the handle of 28000, which further lead to 27200. A sharp downside was
seen on charting, for the coming days we are expecting the prices to approach
26500 levels where profit booking will take place and below this handle some
fresh selling can take place for levels.
Looking for upside 29000 will be immediate resistance.
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