PRECIOUS METAL: The yellow metal is shining brightly on Thursday morning, above $1400 psychological level as dollar weakens after Fed Reserve Chair Jerome Powell's testimony on ease of monetary policy. At the time of writing, US gold futures is trading above 0.97% to $1,426.25 an ounce. In MCX, gold prices is likely to open in positive territory backed by global cues. However, on MCX, Gold contracts in October closed in green by Rs 282 or 0.81%, at Rs. 34,858 per 10 grams with the turnover of 1044 lots, while August contracts are also surged with a turnover of 20,295 lots. Overall sentiment for gold turns to bullish with immediate support of 34,300 levels & 34,200 levels while resistance would be 34,900 & 35,000 levels.