Gold - June 18, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading with small gains on Friday early afternoon trade in Asia on bargain hunting.

However, upside will remain capped as investors continued to digest the U.S. Federal Reserve's surprisingly hawkish policy decision.

Meanwhile, the dollar witnessed some correction this Friday early afternoon trade in Asia, however the greenback could continue to move higher supported by hawkish Fed in the short run.

Technically, LBMA Gold Spot could see sideways to marginal downside momentum up to $1773-$1755 levels. Resistance is at $1791-$1812 levels.

Domestic gold prices are trading with small gains on Friday early afternoon trade, tracking overseas prices.

Technically, MCX Gold August will continue its Bearish momentum below 47000 levels. Support remains at 46800-46600 levels. Resistance remains at 47180-47300 levels.

Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.

Source : Equity Bulls

Keywords