Posted by : Niti Mathur
The yellow metal prices at MCX seen in a positive frame today. The Gold price gained despite crash in COMEX prices and weak global cues. It was trading around Rs 29000 per 10gm levels.
Indian rupee hit record low at 61.6 levels topped further misfortunes in gold costs. The Indian Rupee depreciated around 0.7 percent in yesterday’s trading session. Desires on that U.s. Central bank will moderate the pace of security buys and as property in the greatest bullion-sponsored trade exchanged item swayed yellow metal costs.
In last trading session MCX gold prices traded on a positive note and gained around 3.7 percent on account of depreciation in the Rupee and closed at Rs.28,923/10 gms after touching a high of Rs.29,049/10 gms yesterday. Today October gold rose to a high of 27966 Rs/10gm as of 01.29 pm IST and is expected t trade negative in near term on weak global cues. Intra-day support is now seen at 27500, 27300 and resistance is at 28000 & 28180.
Live MCX Tips
Buy MCX Aug Copper between 444-445 levels, with stop loss at 441, Target at 450/451