AHMEDABAD (Commodity Online): MCX Gold closes below 19000 after reached closer to record high rising at last trading session. Insecurity in other markets has increased the demand as safe place in recent days.
MCX Gold October contract opened at 19053 rose by 0.19 percent or 36 rupees per kilogram. In morning trades, Gold future made high of 19074. After that Price slides down till 19012 in intraday session.
Instant support looks at 19000 corresponding resistance seem to be at 19080. Price is expected to trade higher after slightly correction in price.
Gold price drop to 189950 after commencement of US data released last night. Though, high physical demand in local market at bottom level keep down trend limited. Gold future seems to be remaining upside for the day.
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