MUMBAI (Commodity Online): MCX Aug Gold opened at 18870 per ten gram against previous close of 18856 and made an intraday high at 18880.
Presently at 6.44 pm Gold on MCX traded at 18804 down by 52 rupees after making an intraday low of 18770.
14 days RSI for MCX Gold Aug contract is at 56.14 levels and it shows downtrend. Support for the Gold is seen at 18700 and below could see a test of 18570. Resistance is now likely to be seen at 18875, a move above could see prices testing 18950.
“Technically, Gold looks sideway while range for MCX Gold is from 18700 to 19000,” said Shyamal Mehta, Sr. Commodity Analyst with Commodity Online.
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