Gold - May 7, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading with small gains on Friday in early afternoon trade in Asia supported by a weaker dollar and easing Treasury yields.

Investors will remain cautious ahead of the U.S. non-farm payrolls report due later in the day.

Technically, LBMA Gold Spot remained above $1800 level indicating a strong bullish momentum for the rest of the session. Resistances are at $1825 and $1835.

Domestic gold prices are trading with small gains on Friday in early afternoon trade, tracking firm overseas prices.

However, a stronger Rupee capped upside.

Technically, MCX Gold June remained above 47500 indicating a strong bullish momentum for the rest of the session. Resistances are at 47800 and 48000.

Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.

Source : Equity Bulls

Keywords