Friday, September 07, 2012

MCX Gold Tips and Trend for Today

MCX Gold October contract trading at 31332 down 135 around 11am. GOLD TREND. The Gold prices touched intraday high 31421.00 and intraday low of 31302.00. In October series Gold prices have moved up 2382.00 so far.
MCX Gold December contract was trading at 31707.00 down 133. It touched intraday high of 31730 and intraday low of 31685. GOLD TIPS. In December series gold prices moved up by 2407.00.
MCX Gold February contract was trading at 32066 down 152 and touched intraday high of 32087 and intraday low of 32055. In February series Gold prices moved up by 871.00.
Experts believes that rally in precious metals is expected. Spot prices increased by 0.5 percent. Positive US economic data also helped in sharp gains in gold prices alongwith weakness in US Dollar index DX. The spot gold touched high of $1.695/oz and closed at $1.700.9/oz in yesterday's trading session.
Sell MCX Gold October contract around 31,480-31,485/10gms with stop loss of 31,580/10gms. Experts are expecting targets on the downside to the levels of 31,300/10gms.