GOLD UPDATES FOR JAN 6 2017

FRIDAY





TRADING LEVELS FOR MORNING SESSION





MCX GOLD




SUPPORT 27755 27570 27340




RES 28150 28360 28570


WAIT FOR CONFIRMATION



In the MCX gold hit a high of Rs 27978



And a low of Rs 27785



Gold prices ended the U.S. day session solidly higher Thursday, boosted by a sharply lower U.S. dollar


index and some new uncertainty injected into the marketplace following Wednesday’s minutes from



the Federal Reserve’s Open Market Committee .


The dollar was also pressured by the Fomc Minutes that was dowish on US Monetary policy .


They also hinted that further Us dollar strength could also restrain Us economic growth .


The U.S. ADP national employment report Thursday showed a reading of up 153,000 jobs in December.


That number was a bit lower than market expectations and also helped to lift gold prices .


Currently trading at Rs 27890



Immediate Res seen above Rs 28020



Support can be seen at Rs 27800



We will update as and when any movement is seen .



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