May 28, 2021
Reliance, Coal India, Grasim shine
Bulls took charge of the market as the NSE’s Nifty 50 breached its all-time high of 15,431.75 on Friday ahead of the crucial GST Council meeting.
The market opened on a strong note on the first day of the new series in the F&O segment. The Nifty, which had closed on a record high of 15,337.85, rallied further during the morning session to breach its previous high of 15,431.75 recorded on February 16, 2021. It hit an intraday high of 15,455.55.
Hemang Jani, Head Equity Strategy, Broking & Distribution, Motilal Oswal Financial Services Ltd, said, “After two-three months of consolidation, the month of May finally took the lead with MTD gains at 5.6 per cent so far vis-a-vis a near-lull phase spread over the previous two months (March +1 per cent & April -0.4 per cent). Comfortable liquidity (due to lack of avenues to deploy) globally and the strong commodity cycle (metals, sugar, agro chemicals) took the market to new highs.”
Gold and Silver Prices May Turn Higher as Long-Term Treasury Yields Stagnate
2021-04-15 03:00:00
Daniel Moss,
Analyst
Gold, Silver, XAG/USD, XAU/USD, US 30-Year Treasuries – Talking Points:
Stagnating long-term Treasury yields could open the door for anti-fiat precious metals to gain ground in the coming weeks.
Long-term technicals continue to remain constructive for both gold and silver.
Anti-fiat gold and silver prices have clawed back lost ground in the month of April, after a tumultuous sell-off in longer-term US Treasuries drastically undermined the precious metals market earlier in the year. There was an expectation that inflation data would drive yields even higher in the near term and in turn intensify the downward pressure on gold and silver, as base effects come into play.