Gold - May 26, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading higher on Wednesday early afternoon trade in Asia supported by a weak dollar and rising to the threat of future inflation.

However, Fed Vice Chairman Richard Clarida said this week that the central bank could be ready to discuss the slowdown of asset purchases, in a repeat of the recent minutes from the Fed's latest meeting and kept upside limited.

At the same time, across the Atlantic, ECB policymakers warned that the central bank must continue to support the economy as the fight against COVID-19 is far from over.

Technically, LBMA Gold Spot is trading above $1900 could see a bullish momentum up to $1913-$1922 levels. Support is at $1896-$1888 levels.

Domestic gold prices are trading higher on Wednesday early afternoon trade, tracking overseas prices.

Technically, MCX Gold June could see a bullish momentum up to 49100-49300 levels. Support is at 48900-48700 levels.

Strategy for Gold June for the rest of the session is buying on dips near 49000 with a stoploss at 48850 and a target at 49300.

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Source : Equity Bulls

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