AHMEDABAD (Commodity Online): With the price of the Gold futures near 1,750 dollar an ounce, a new generation of prospectors is heading into the hills with picks and pans following record high prices for this decade. On beginning of the week, Gold October contract rallied to three week high at 26199 rupees which rose by 1.80 percent per 10 grams as concern over slowing economic growth. MCX Gold October as seen in the weekly chart above has rallied sharply higher and made a new record high of 26457, but could not close higher. So I expect the Gold prices to find initial resistance at 26150-26200 levels. Amrita Mashar, analyst with Commodity Online stated that it has been observed that physical buyers come back into the market and grab buying opportunity near 25700 as Gold was trading slightly lower from all time high. Trading consistently above 26000 can renew the current rally initially towards 26600 then 27400 and then finally towards 28000 levels. 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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