MCX Gold edged up and settled with a gain of Rs.190.00 to settle at 29030 rupees as expectations that the US Fed could do more if necessary to lift the economy on Thursday.
MCX Gold June April delivery contract rose by 0.20 percent to 29080 with total trading lots of 11661. Gold edged up as expectations that the US Fed could do more if necessary to lift the economy.
Gold is getting support at 28890 and below could see a test of 28760 level, And resistance is now likely to be seen at 29100, a move above to test 29175 rupees.
Technically, Gold June delivery contract expected to trade in range of 28800-29100 in coming week.
“I am expecting profit booking in Gold futures if price will not break 29100 rupees. For near term, Gold may once again take support near 28800 rupees before starting a fresh rally.
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