Gold market once again remained caught in a tug of war between expectations of an improving economy and rising inflation pressures as Joe Biden took office. Hopes of a massive stimulus bolstered the prospects for precious metals. Janet Yellen said that tax cut in 2017 for large corporation should be repelled, helping gold/silver to rally. Gold has resistance around $1,865 and needs to break that level for momentum to take it above $1,900. $1,820-$1,810 is the immediate support and we believe gold will trade in range until market gets more clarity on the new administration's policies.
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First Published: Thu, January 21 2021. 07:31 IST