Gold - June 21, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading with gains on Monday early afternoon trade in Asia, boosted by retreating U.S. Treasury yields.

The benchmark 10-year U.S. Treasury yield fell to its lowest level since Mar. 3, 2021. The dollar was flat on Monday early afternoon trade in Asia.

Investors will look to cues from Fed speakers this week including Dallas Fed President Robert Kaplan, New York Fed President John Williams and Fed Chairman Powell testimony.

The Bank of England will hand down its own policy decision on Thursday, while European Central Bank President Christine Lagarde will address the European Parliament later in the day.

Technically, LBMA Gold Spot will continue its Bearish momentum up to $1765-$1744 level in coming session. Resistance is at $1787-$1795 levels.

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

Technically, MCX Gold August will continue its Bearish momentum below 46900 levels. Support is at 46600-46400 levels. Resistance is at 47000-47150 levels.

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Source : Equity Bulls

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