Tuesday 12 November 2013

Daily Gold Outlook

The MCX Gold December futures continue to seek support around Rs 29,700-odd levels.

The Gold December futures, once again, on Monday bounced back strongly after testing the support around Rs 29,700.

Fresh weakness in Rupee and positive divergence in the key momentum oscillators like the ADX index and the 14-day RSI is likely to lend support to the prices in the near term.

On the upside, Gold prices can rally to Rs 30,700-odd levels, with some interim resistance around Rs 30,500-odd levels.

Click Here for the daily support and resistance levels.

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