Thursday 10 October 2013

Daily Gold Outlook

The MCX Gold December futures have broken crucial near-term support of Rs 29,200-odd levels.

Further, one of the key momentum oscillators - the 14-day RSI has given a negative divergence on the daily charts. Hence, the short-term bias may be negative for the yellow metal.

In the near-term, MCX Gold may now slide towards the 200-DMA (long-term) moving average.

Click Here for detailed analysis.

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