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Commodities
Gold - May 18, 2021 - Reliance Securities
Posted On : 2021-05-18 20:36:39( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading with small gains on Tuesday early afternoon trade in Asia, supported by a weaker U.S. dollar, while growing inflationary pressures supported the metal's appeal as an inflation hedge.
Holdings of SPDR Gold Trust rose 0.7% to 1,035.93 tonnes on Monday, their highest since late-March.
Markets will look to cues from the minutes of the Federal Reserve's last policy meeting due on Wednesday.
Technically, LBMA Gold Spot resistances are at $1885 and 1894. Supports are at $1868 and $1855.
Domestic gold prices are trading with small losses on Tuesday early afternoon trade, as the Rupee strengthened against the U.S. Dollar this Tuesday.
Technically, MCX Gold June resistances are at 48500 and 48700. Supports are at 48250 and 48050.
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