Gold & Silver - June 21, 2022 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International spot gold and silver prices remained in a small trading band on Monday.

COMEX futures remained shut on account of Juneteenth holiday, so trading remained muted.

Domestic gold and silver ended marginally in the red on Monday amid lacklustre volumes.

However, uncertainty over global growth in the face of inflation and rising interest rates capped upside.

At the same time, the U.S. Dollar eased in the Asian trading and capped downside.

Markets awaited the cues from speeches from the central bankers who will be speaking this week, led by a likely hawkish testimony from Fed Chair Jerome Powell's to the House this week.

Meanwhile, ECB President Christine Lagarde reaffirmed plans to raise the ECB's interest rates twice this summer while fighting widening spreads in the borrowing costs of different euro zone countries.

International spot and COMEX gold prices have started with small gains on Tuesday morning in Asian trade as investors await testimonies from the Fed members this week.

Today's range of LBMA Spot gold is $1832.74-$1851.68.

Domestic gold futures prices could start higher on Tuesday, tracking a positive start in the overseas markets.

Today's range of MCX gold August is 50640-50910.

International spot and COMEX silver prices have started with small gains on Tuesday morning in Asian trade as the dollar eased ahead of Fed Chairman's speech this week.

Today's range of COMEX July silver is $21.420-$21.940.

Domestic silver futures prices could start higher on Tuesday morning, tracking a positive start in the overseas markets.

Today's range of MCX silver July is 60555-61045.

Source : Equity Bulls

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