Tuesday, September 11, 2012
MCX Gold trend and Levels for Today
MCX Gold prices touching new heights and reached 32,500/10gms yesterday due to seasonal demand and strong global economic trend. Gold which is continuing to touch new highs from past three week, yesterday rose by 50 rupees to 32,400/10gms. MCX TREND. In futures trade gold prices crossed Rs 33,000 yesterday by tracing strong global markets sentiments. Firmness in spot market pushed gold to fresh high in futures trading ahead of festive season, Experts said.
MCX Gold April delivery was up by 136 to trade all time high of 333,170/10gms. Experts says that bullish trend will continue in MCX Gold as central banks from US and China are taking stimulus measures for economic growth. In New York Gold increased by USD 34 to USD 1,734.30 an ounce. Buying by stockists fulfilled the demand for Gold and thus resulted in uptrend.
Indian Post announced special discount of 6.5% given to customers on sale of Gold coins on occasion of Pushya Nakshatra coming on September 12th 2012.
Support – 31824, 31741, 31632
Resistance – 32016, 32125, 32208
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