Market Update

Market Watch

Tuesday, 11 March 2014

MCX Market Alert: Gold firm on fund inflows; China, Ukraine Worries Support

Gold was steady near $1,340 an ounce on Tuesday as fears of an economic slowdown in China and Ukraine's geopolitical crisis keep investors seeking safe-haven bullion.
Traders expect the metal to be well-supported between $1,330 and $1,350, with the next big movement expected from the U.S. Federal Reserve's policy meeting next week. 
Spot gold had inched up 0.3 percent to $1,341.96 an ounce by 0321 GMT. It ended flat on Monday after earlier dropping as much as 0.8 percent.

Today’s Gold Market Trends :
Trend: Consolidate | Strategy: Buy on dips
R1- 30480, R2- 30850| S1-29950, S2- 29680
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