Gold - June 15, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading flat in a choppy trading session as the U.S. Dollar remained weak on Tuesday early afternoon trade in Asia.

However, trading volumes remained low as investors await a U.S. Federal Reserve policy decision for further clues on inflation and future monetary policy.

Investors also await the U.S. producer price index, alongside retail sales and industrial production figures, to be released later in the day.

Technically, LBMA Gold Spot broke below its 21 Daily Moving Average at $1887 level and now is trading at its support zone $1870-$1860 levels. However, if the support zone is broken, we could witness prices test $1852-$1844 levels.

Domestic gold prices are trading in the green in a volatile trading session on Tuesday early afternoon trade, tracking overseas prices.

Technically, MCX Gold August is trading below 48700 levels which could extend its Bearish momentum up to 48450-48100 levels. However,a recovery above the level could push prices to the resistance zones at 48800-49000 levels.

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Source : Equity Bulls

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