Gold - April 1, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices were trading small gains this Thursday morning and early afternoon trade in Asia, as the U.S. dollar and Treasury yields eased from Wednesday's high.

However, a potential U.S. stimulus measure totaling more than $2 trillion stoked inflation fears and kept bond yields near the April 2020 highs and kept upside capped in gold.

Investors will look to cues from jobless claims and ISM Manufacturing PMI data tonight.

Technically, LBMA Gold Spot has formed a Bullish Harami kind of Candlestick which is a sign of Bullish reversal indicating an upside momentum up to $1725-$1738 levels. Support is at $1713-$1703 levels.

Domestic gold prices were trading with solid gains this Thursday morning and early afternoon trade, tracking firm overseas prices.

Technically, MCX Gold June has bounced above 21-Daily Moving Average at 45050 levels indicating for positive trend up to 45300-45550 levels.

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Source : Equity Bulls

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