Gold share price today 26-04-2021: Expert reveals Trading range for the day - Rs 47268-Rs 47910

Gold share price today 26-04-2021: Kedia Advisory says that Gold yesterday settled down by -0.5% at 47532 as rising bond yields amid a surge in new home sales in the U.S. dented demand for the safe-haven asset. Putting a floor under prices were rising coronavirus infections in countries from India to Japan, which led to renewed restrictive measures and clouded the global economic growth outlook. U.S. factory activity powered ahead in early April, though manufacturers increasingly struggled to source raw materials and other inputs as a reopening economy leads to a boom in domestic demand, which could slow momentum in the months ahead. The flow of strong economic data continued with another report showing new home sales racing to a more than 14-1/2-year high in March.
 
The economy is being boosted by the White House’s massive $1.9 trillion COVID-19 pandemic rescue package and increased vaccinations against the virus. Sales of new U.S. single-family homes rebounded more than expected in March, likely boosted by an acute shortage of previously owned houses on the market. The Commerce Department said that new home sales surged 20.7% to a seasonally adjusted annual rate of 1.021 million units last month. India’s physical gold demand faltered as strict restrictions to contain the spread of COVID-19 kept buyers away, while activity in other top hubs remained largely muted due to higher prices, says Kedia Advisory.
 

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Kedia Advisory highlights that technically market is under fresh selling as market has witnessed gain in open interest by 0.45% to settled at 10949 while prices down -240 rupees, now Gold is getting support at 47268 and below same could see a test of 47005 levels, and resistance is now likely to be seen at 47910, a move above could see prices testing 48289.
 
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Gold trading range for the day is 47005-48289, Gold prices settled flat as rising bond yields amid a surge in new home sales in the U.S. dented demand for the safe-haven asset. Rising coronavirus infections in countries from India to Japan, which led to renewed restrictive measures and clouded the global economic growth outlook? U.S. factory activity powered ahead in early April, though manufacturers increasingly struggled to source raw materials and other inputs