Bullion - Gold and Silver Outlook - April 12, 2022 - Reliance Securities

International spot and COMEX gold and silver prices ended higher on Monday.

Domestic gold, silver and the bullion Index futures rose on Monday, tracking overseas markets but were well off session highs.

The metals continued to witness safe-haven demand on worries about inflation becoming even more problematic in the coming months.

According to a poll, the consumer price index report for March is forecast to come in hot at up 8.4%, year-on-year.

However, prices have backed well down from their early-session highs on some profit taking by the shorter-term futures traders and amid rising bond yields and recovering Dollar.

Moreover, bullion also faced growing headwinds as central banks around the world start to tighten monetary policy to curb rising inflation.

The most active Call strikes for March expiry option gold contract is 51000, 52000, 53000, 54000, 55000 and 56000.

The most active Put strikes for March expiry option gold contract is, 48000, 49000, 50000, 51000 and 52000.

International gold spot and COMEX futures have started flat this Tuesday morning in Asian trade and remain range bound as investors the crucial U.S. CPI data tonight.

Howvere, rising dollar and bond yields could cap upside, at the same time markets could witness inflation trade.

Today's range of Spot LBMA gold is $1968.34-$1939.09.

Domestic gold futures prices could start flat this Tuesday morning and remain range bound, tracking a subdued start in the overseas markets.

Today's range of MCX June gold is 52600-51900.

International silver spot and COMEX futures have flat this early Tuesday morning in Asian trade but could remain range bound this Tuesday ahead of inflation data.

A strong Dollar could cap upside.

Today's range of Spot LBMA silver is $25.405-$24.695.

Domestic silver prices could start flat this early Tuesday morning, tracking a subdued start in the overseas markets, but could remain range bound this Tuesday.

Today's range of MCX May silver is 68215-66640.

Source : Equity Bulls

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Bullion Gold Silver Commodities RelianceSecurities