Market LIVE Updates: Nifty below 14,700, Sensex falls 1,000 points; pharma outshines

Abhishek Bansal, Founder Chairman, Abans Group:
Strength in the dollar along with a surge in global bond yields is likely to keep gold prices under pressure. The dollar index is trading near 90.748 which has recovered from yesterday's low of 90.398, however still far away from the recent high of 93.470 registered on March 31.

The United States 10-Year Bond Yield is now trading at 1.645 which recovered from the recent low of 1.531 registered on April 23 still sharply lower from the recent high of 1.7760 registered on March 30th. Gold prices are currently trading near $1,769 with moderate losses from yesterday’s closing.

Recovery in the dollar index and Bond Yield from the recent low is likely to keep gold prices under pressure. It is likely to face stiff resistance near $1,790-$1,807, however, it may find an immediate support level around $1,762-$1,737
