Gold - June 1, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading with small gains on Tuesday early afternoon trade in Asia as the dollar weakened and investors awaited fresh data on the U.S. economy.

Fresh virus outbreaks and inconsistent economic data have also boosted gold.

Key data due this week include U.S. jobs figures on Friday. Before that the economic calendar out today is the manufacturing PMI's from the U.S., U.K and Germany.

Technically, LBMA Gold Spot above $1912 level could see a bullish momentum up to $1923-$1935 levels. Support is at $1902-1895 levels.

Domestic gold prices are trading with gains on Tuesday early afternoon trade, tracking overseas prices and weaker Rupee.

Technically, MCX Gold August above 49500 could see an upside move up to 49950-50150 levels. Support is at 49560-49300 levels.

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Source : Equity Bulls

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