Silver - Jan 22, 2021 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International and domestic silver prices are trading down this Friday morning and early afternoon trade.
Technically, LBMA Silver Spot is holding a resistance near 21-Daily Moving Average at $25.97 levels and below which could see downside $24.90-$24.00 levels. Resistance is at $25.80-$26.30 levels.
Technically, MCX Silver March is trading below 67000 levels indicating a downside pressure up to 65500-64700 levels. Resistance is at 66900-67500 levels.
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Gold - Jan 22, 2021 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International gold prices are trading down this Friday morning and early afternoon trade in Asia as U.S. Treasury yields gained this Friday.
However, downside was capped aided by a weaker dollar and further U.S. stimulus bets.
Prices also came under pressure after upbeat data from the labour and housing markets this week.
Technically, LBMA Gold Spot took a support near 21-Daily Moving Average which is placed at $1859 levels but below could see a sideways to marginal downside momentum up to $1853-$1839 levels. Resistance is at $1869-$1875 levels.
Crude Oil - Jan 22, 2021 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading down this Friday morning and early afternoon trade in Asia weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world s biggest oil importer.
The Chinese government is urging people not to travel during the upcoming Lunar New Year holiday in February.
The market is awaiting official oil inventory data from the U.S. Energy Information Administration tonight, after industry data on Wednesday showed a surprise 2.6-million-barrel increase in U.S. crude inventories last week.