India, Jan. 15 -- Technically Gold market is under long liquidation as market has witnessed drop in open interest by 8. 36% to settled at 7099 while prices down 84 rupees.
Now MCX Gold is getting support at 48892 and below same could see a test of 48563 levels and resistance is now likely to be seen at 49409 a move above could see prices testing 49597.
Gold yesterday settled down by 0.17% at 49221 as the dollar steadied and U.S. Treasury yields held near 10-month highs with markets waiting for President-elect Joe Biden to reveal details of his stimulus plan.
Optimism over a report that Biden could launch a $2 trillion aid package for coronavirus relief pushed benchmark 10-year Treasury yields towards a 10-month high. The Fed said that th...