Gold - April 1, 2021 - Reliance Securities
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Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices were trading small gains this Thursday morning and early afternoon trade in Asia, as the U.S. dollar and Treasury yields eased from Wednesday s high.
However, a potential U.S. stimulus measure totaling more than $2 trillion stoked inflation fears and kept bond yields near the April 2020 highs and kept upside capped in gold.
Investors will look to cues from jobless claims and ISM Manufacturing PMI data tonight.
Technically, LBMA Gold Spot has formed a Bullish Harami kind of Candlestick which is a sign of Bullish reversal indicating an upside momentum up to $1725-$1738 levels. Support is at $1713-$1703 levels.
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Gold - Outlook - April 1, 2021 - Reliance Securities
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