GOLD UPDATES FOR JAN 18 2017

WEDNESDAY




TRADING LEVELS FOR MORNING SESSION




MCX GOLD



SUPPORT 1 28540


SUPPORT 2 28350


SUPPORT 3 28145


RESISTANCE 1 28955


RESISTANCE 2 29170


RESISTANCE 3 29390


Yesterday in the MCX Gold traded positive and hit a high of Rs 28776



And a low of Rs 28580



In dollar terms hit a high of $ 1218.75




Gold prices ended the Us session solidly higher hitting a 2 month high .


Worries about U.K leaving the European Union led to some more buying as Gold seen as safe bet .


The Us dollar fell to more than 1 % to a 6 week low against all major


currencies .


In dollar terms gold faces resistance at $ 1220


And support at $ 1209



In the Mcx Currently trading at Rs 28700



Immediate resistance seen at Rs 28800



And support at 28640


The trend for now remains positive .



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