COM: MCX Gold in a sea - saw battle to touch 21000 marks
AHMEDABAD (Commodity Online): Gold closed higher at 20512 yesterday after recovering from most losses in previous sessions. The uptrend was fallout of firm Silver prices after the release of the US economic data.
Buoyancy was upbeat in Gold in morning trades, as at MCX counter trades up 0.20 percent and tested new high at 20544 per 10 grams. Festival demand in Asian market supports to Gold price sustain at higher level.
“Looking at global environment, Gold and silver are showing huge sign of promise for gain at this moment. Gold price seems to be up for the day and may test price 20600 in intraday trades. Buying near 20400 can be consider as best opportunity for earn profit in day. For near term targets set to 21,000 per 10 gram,” said Amrita Mashar, Analyst with Commodity Online.
