Gold Witness Higher Side At Around Rs 27500/10
CommodityOnline | Jun 17, 2014 05:23AM ET
In the coming week prices might continue its upside movement and could able to recover some more of its strength where Rs. 27500/10 gms would be the upper level at MCX and $1290-1300/oz range re-mains intact at COMEX.
Gold prices rose for the second time in a row on weekly basis, gained close to 3% a MCX and near to 2% in the international market. Prices are trading with down-wards bias continued in the market and still lower tops and lower bottoms are visible on the weekly charts. In the coming week prices might continue its upside movement and could able to recover some more of its strength where Rs. 27500/10 gms would be the upper level at MCX and $1290-1300/oz range re-mains intact at COMEX. Short term momentum indicators e.g. RSI and MACD have now start supporting positive move in the coming weeks where we might see selling pressure building up on the higher side at around Rs. 27500/10 gms.
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