Gold - April 19, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading higher this early Monday afternoon trade in Asia supported by retreating U.S. Treasury yields and softer dollar.

Investors also bought the yellow metal amid worries about the rising number of COVID-19 numbers globally.

Meanwhile, markets also remained supported by Fed's plan to keep interest rates historically low.

There is no major data from the U.S. or Euro zone today which could keep the prices tracking the dollar movements.

Technically, LBMA Gold Spot will continue its bullish momentum up to $1782-$1797 levels. Support is at $1771-$1760 levels.

Domestic gold prices are trading higher, tracking overseas prices and a weaker Rupee.

Technically, MCX Gold June is trading above 21 as well as 50 Daily Moving Averages above 47300 levels indicating a strong upside momentum to continue up to 47700-47950 levels.

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Source : Equity Bulls

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