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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