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GOLD

Gold trading range for the day is 46324-47072.

Gold prices inched lower as a record rally in global equity markets offset support for bullion from a softer dollar and data showing a jump in U.S. inflation.

U.S. consumer prices soared the most in more than 8-1/2 years in March. Gold is often viewed as a hedge against inflation.

Fed’s Patrick Harker said the Fed will not withdraw its funding just yet even as the U.S. economy could expand by 5% to 6% this year.

Investors are looking for some other possibilities to invest in than gold where they can find higher yields.

BUY GOLD JUN 2021 @ 46500 SL 46200 TGT 46880-47100.MCX

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