Ahmedabad (Commodity Online): MCX Gold February future contract fell around 1.5% to settled at Rs 27281 per 10 grams with intraday low of Rs 27150 per 10 grams, as the dollar rallied against the euro on more jitters about European debt.
Today's session MCX Gold February contract open at Rs 52201 and currently trading at Rs 27099 per 10 grams with 0.65% down by 12:09 IST. Meanwhile Spot Gold trading at $1553.30 per ounce by 12:11 IST with 0.15% down.
According to Ankush Kumar Jain, analyst with Commodity Online, Technically MCX Gold February contract will remain bearish for today's session. In evening session to keep on eyes on Jobless claims at 7:00 PM IST for further movement in Gold. MCX Gold February contract have very good support at Rs 26800. if gold sustain below it then we can seen Gold prices up to Rs 26000 in coming sessions. Major resistance looks at Rs 27440.
for short term view in Gold suggestion to sell around 27250 with stop loss of 27450 for target 26850 and 26200,Ankush added
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