SUPER BULLION LIVE CALL
Bullion rose on Monday after the previous session’s steep fall, boosted by hopes of dovish monetary policy from the US Federal Reserve.
International bullion prices have started flat this Tuesday morning in Asian trade ahead of the US Fed meeting on Wednesday.
Technically, LBMA GOLD Spot had a volatile session where prices bounced from its multiple support level around $1,680-$1,683.
However, a breakout above $1,705 is awaited with good volume activity for further upside movement up to $1,715-$1,726. Moreover, prices are intact to trade in a range of $1,683-$1,715 in the coming sessions.
MCX Gold August contract gave a positive closed above 46,000 levels where it did not breach 45,700 levels indicating some positive breath in the counter. However, it can see resistance at 46,300-46,550 levels.