Gold buying range today 27/05/2021: Expert says Gold trading range for the day is Rs 48336 – Rs 49444

Gold price today 27-05-2021: Kedia Securities says that Gold yesterday settled down by 0.17% at 48784 hurt by an uptick in the U.S. dollar and bond yields, while investors awaited key economic readings out of the United States. 
 
Kedia Securities says that Gold could receive support from higher Chinese physical demand as China has been importing more gold from Switzerland and Hong Kong. Commercial banks in both countries have been granted higher import quotas for April and May. 

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Technically market is under long liquidation as market has witnessed drop in open interest by -12% to settled at 4817 while prices down -83 rupees, now Gold is getting support at Rs 48560 and below same could see a test of Rs 48336 levels, and resistance is now likely to be seen at Rs 49114, a move above could see prices testing Rs 49444.
 
Trading Ideas on Gold:
 
Gold trading range for the day is Rs 48336 – Rs 49444. Gold prices eased, hurt by an uptick in the U.S. dollar and bond yields, while investors awaited key economic readings out of the United States. Benchmark U.S. 10-year Treasury yields held near a more-than two-week low touched on Tuesday. Fed vice chair Richard Clarida said the U.S. central bank can curb an outbreak of inflation should it occur without throwing recovery off track.