Gold Updates .
Gold prices held steady as investors keenly watched the Federal Reserve meeting and US jobs data
for clues on future interest rate moves .
US markets were trading lower the last few days amid global uncertainity .
With lack of economic data due to government shut down , Fed could find it difficult to take a decision
on rate easing .
Gold in dollar terms hit a low yesterday around $ 3996 .
When US markets opened Gold tested supports of $ 4028 and then rallied upwards top test resistance at $
$ 4080 .
Then there was a further sharp correction till $ 4040 before closing around $ 4071 .
Currently trading near resistance at $ 4094.
High for now $ 4098 .
Next resistance seen at $ 4110 .
In the Mcx Currently trading at Rs 123350
Support now at 123000 .
Resistance seen at Rs 123650 .
Trading for now with a positive bias .
No comments:
Post a Comment