Monday, July 23, 2012
MCX Gold Target and Trend For today
MCX Gold Target –
Support : 29212, 29138, 29094
Resistance : 29330, 29374, 29448
MCX Gold Trend : MCX Gold August contract closed around same levels as around in previous week. Due to depreciation in Indian rupee result MCX prices to close on positive note at 29,277/10gms after touching high of 29,370/10gms during the week. Spot Gold prices declined by 0.4% in last week backing strength in dollar index with some negative market sentiments.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,257.05 tons, as on July 19. Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 9,696.71 tons, as on July 13.
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