Gold - May 20, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading marginally higher on Thursday early afternoon trade as investors slowly factored in the minutes from the Federal Reserve's meeting in April that raised the possibility of a debate on scaling back asset purchases.

The U.S. Dollar and the benchmark Treasury Yields were trading weak on Thursday early afternoon trade and lent support.

Markets could also look to cues from jobless claims and Philly Fed Business Index data due tonight.

Technically, LBMA Gold Spot is trading on bullish note near $1870 levels where further could see $1885-1894 levels. Support is at $1863-$1855 levels.

Domestic gold prices are trading marginally weaker on Thursday early afternoon trade.

Technically, MCX Gold June has broken above a pivotal level above 48400 and now could witness a push up to 48800-49100 levels. Support is at 48350-48150 levels.

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Source : Equity Bulls

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