Gold - May 28, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold was trading in the red on Friday early afternoon trade in Asia as a strengthening dollar and rising U.S. yields pressured the yellow metal.

Investors now await the Core Personal Consumption Expenditure Price Index for April, to be released later in the day, to gauge inflationary pressure.

Technically, LBMA Gold Spot below $1890 could see a Bearish momentum up to $1881-$1873 levels. Resistance is at $1896-$1910 levels.

Domestic gold was trading in the red on Friday early afternoon trade in Asia tracking overseas prices and stronger domestic currency.

Technically, MCX Gold June below 48200 could see downside pressure up to 48000-47800 levels. Resistance is at 48500-48750 levels.

In other precious metals, silver was trading in the red on Friday early afternoon trade in Asia tracking weak gold and stronger dollar.

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Source : Equity Bulls

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