Gold & Silver - August 22, 2022 - Reliance Securities

Mr. Sriram Iyer - Senior Research Analyst at Reliance Securities

Gold started the Monday morning on a weaker note below $1750/ounce levels and could continue to remain under pressure this evening session as a string of hawkish remarks from US policymakers lifted the dollar and Treasury yields and dented bullion demand.

Looking ahead, prices could continue to remain under pressure on Tuesday morning session as the dollar could continue to strengthen ahead of Fed Chair Jerome Powell's speech at Jackson Hole this week to guide the outlook for US monetary policy.

So, range for domestic gold futures for the next 24 hours or so is 51,000 to 51,400.

Source : Equity Bulls

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