Technical Comment For The Day: Gold Renewal of trading interest - TopicsExpress

Technical Comment For The Day: Gold Renewal of trading interest and short covering in the bullions resulted in a bounce in MCX Gold contract. The benchmark prices closed at Rs 29486 per 10 grams, up 1.3%. Further rise in Gold towards Rs 29570 levels is possible. The prices are expected to show supports at Rs 29200 per 10 grams. Gold also managed to breach the 100 day EMA of Rs 29417 on Monday. This is a bullish indicator with prices expected to show further run towards the above mentioned targets.

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