Precious Metals Weekly Report: Motilal Oswal
According to Motilal Oswal, Gold ranged from low of ~$1,680 to high of ~$1760•
March 09, 2021 / 08:45 AM IST
Motilal Oswal's report on Precious Metals Weekly
Gold ranged from low of ~$1,680 to high of ~$1760 • Silver ranged from low of ~$24.84 to high of ~$27.17 • The US Bond Market Continued to Steer the Ship in Global Developed Markets last week • Bullions have slid All Week as Risk-Appetite Draws Investors’ Attention to Other Assets • Powell, Reaffirming a Hands-Off Approach for 2021, Drove the Markets Most Volatile Day • Return of the Greenback Gold prices suffered last week, as the same primary pressures that came to bear on metals in the earlier weeks have persisted. The US Dollar has been gaining strength in another important reversal of recent trends. The move in DXY and US Yields did push the metal below $1,700 and create a panic in the market.
This week, will be important with respect to the economic calendar, as few vital data points are scheduled for this week. GDP and inflation data from major economies will be very important to watch for.
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