MCX Gold is having support near Rs. 28530, and anything below should be for remainder of the week. If Rs. 28530 is not broken for the day, traders may enter in buying side with stop loss of Rs. 28530 for the target of Rs. 28900
Gold prices surged 1.6% on Monday, its biggest one-day gain since late January after Fed chief Bernanke said that “continued accommodative policies” are needed to bring about big gains in the US jobs market, which he described as “far from normal,” despite a recent improvement.
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