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Gold - May 7, 2021 - Reliance Securities

Posted On: 2021-05-07 11:51:47 (Time Zone: UTC)


Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading with small gains on Friday in early afternoon trade in Asia supported by a weaker dollar and easing Treasury yields.

Investors will remain cautious ahead of the U.S. non-farm payrolls report due later in the day.

Technically, LBMA Gold Spot remained above $1800 level indicating a strong bullish momentum for the rest of the session. Resistances are at $1825 and $1835.

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

However, a stronger Rupee capped upside.

Technically, MCX Gold June remained above 47500 indicating a strong bullish momentum for the rest of the session. Resistances are at 47800 and 48000.

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Source: Equity Bulls

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