AHMEDABAD (Commodity Online): Gold has been trading in a range-bound manner constantly for past five trading sessions mainly on account of mixed global cue. Upside movement in metals and equity trades high in last two days which kept uptrend contained. Gold future trades in narrow range of 150 rupees of 18970-18850 levels. In last trade at Multi Commodity Exchange, Gold ended with positive note at 18933. This is good signal as prices closed above 1890 per kg which is giving indication of positive trend ahead in Gold price. MCX Gold October delivery opened on August 31, 2010 at 18948 with no change in prices at 3:49 with total volume of 8847 lots. Instant support looks at 18870 and corresponding strong resistance seems to be at 18990. Gold was steady on Tuesday as investors eyed US economic data due this week for clue to the strength of world’s biggest economy. Meanwhile, equity market has become more appealing these days for earning return as alternative investment, said Amrita Mashar, Analyst with Commodity Online. Fundamentally, gold seems to be in bullish mode from here. Ahead of US Economic data, put pressure on Gold future to move upside. Investors are advice to remain conscious on every low, it will consider as a buying opportunity for long run. To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com

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