CO:Gold traded higher because of Indian Rupees Deprecation
Ahmedabad (Commodity Online): In MCX today Gold February delivery contract up by 177 per 10 grams with high of 29130 per 10 grams because of Indian rupees deprecation against US dollar by more than 1%. and Gold in global markets traded lower with loss of 0.2% at 5:49 PM IST.
In Evening Session gold would be supportive because of crude clues. And if Crude traded higher in evening session then we would seen more up side movements in gold.
Technically MCX Gold February Support around at 29010. and Resistance at 29180. If Crude Inventories supportive for Crude and Gold sustain above 29180 then we can seen 29300-29350 levels in today's session,says Ankush Kumar Jain, Research Analyst with Commodity Online
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