Wednesday, 7 May 2014
MCX Tips: Live Gold Market Updates
Gold climbed to trade near its highest in three weeks on Wednesday, helped by a weaker dollar and simmering tensions in Ukraine that triggered safe-haven
Spot gold was trading nearly flat at USD 1,308.21 an ounce by 0027 GMT, after slipping 0.2 percent on Tuesday. Before that, the metal had gained about 2 percent in as many sessions.
MCX GOLD June expiry future last closed at 28,895 with loss. In intraday mcx gold future’s high was at 29,969 while low was at 28,834. Total 100-rupee intraday range and closed with loss. Traders with stop loss below 28,800 keep long view for targets 29,200 to 29,500 in intraday.
Gold Market Trends for Today:
Trend: Consolidate | Strategy: Buy on dips
R1- 29180, R2- 29450| S1-28650, S2- 28250
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