Gold - June 10, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading in the red on Thursday early afternoon trade in Asia, tracking gains in the U.S. Dollar.

However, the benchmark 10-year U.S. Treasury yields slid below 1.50% for the first time since May 7 and capped downside.

Nonetheless, investors refrained themselves from taking large positions ahead of U.S. Inflation data tonight.

Investors will also look to cues from initial jobless claims, due later in the day.

Across the Atlantic, the European Central Bank's policy decision will hand down its policy decision later in the day as and we expect that the central bank will maintain its current stimulus measures.

Technically, LBMA Gold Spot could remain within $1850-$1912 levels.

Domestic gold prices are trading in the red on Thursday early afternoon trade, tracking overseas prices.

Technically, MCX Gold August is trading below 49000 levels and now could pull prices up to 48600 levels. Resistance is 49000-49200 levels.

In other precious metals, International silver prices are also trading in the red, tracking gains in the dollar and weak gold.

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Source : Equity Bulls

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