MCX Gold Outlook Today- 16 July 2013

MCX yellow metal is again in news due to its changing prices in international market. Gold prices are expected to fall ahead of Bernanke's testimony on the monetary policy tomorrow. It will also affect gold prices in India as a result Indian Rupee may see some strength against US dollar. 

MCX Gold (Aug) Trend :-

If we consider charts , gold  is looking slightly sluggish and can trade weak for the day.

August contract has been trading flat today. The GOLD rate touched an intraday high of Rs 26470 and an intraday low of Rs 26340.00. GOLD prices have seen a downfall of nearly 18% in August series
Prices are hovering around 26430-26450. By breaching the barrier of 26600 region could fascinate intraday buyers. Day traders can go for  buy in Gold only above 26500 level.

A trade below 26350 would  invite day seller  for the target of 26300-26230 and even below.


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