Wednesday, 2 April 2014

Gold Technical Comment For 3rd April

Being in oversold position, MCX Gold can showed some moves on the higher side. The prices closed at Rs 28050 per 10 grams, up Rs 138 and is likely to see some moves towards Rs 28300 per 10 grams. On the lower side, Gold is expected to test RS 27900 per 10 grams, but that is not expected in short term trades. A safe strategy can be to buy Gold near supports per 10 grams, for the price targets of Rs 28180 and 28300 per 10 grams. The prices have already corrected looking at the RSI set at 21, an indicator of overbought situation in the metal. COMEX Gold for April expiry was trading at $ 1291 per troy ounce, up $ 0.6 per troy ounce.

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1 comment:

  1. Indian Stock Market Tips
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