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MTECHTIPS-Technical Comment For The Day: Gold

MTECHTIPS-Technical Comment For The Day: Gold

Gold lost in intraday trades on MCX on Wednesday. The session Wednesday was critical as Gold moved below Rs 26500 on closing basis. Gold prices were seen at Rs 26471 on 26 August 2015 against Rs 26740 per 10 grams on 25 August 2015. Resistance for Gold is towards Rs 26700 and Rs 27800. Supports in Gold towards Rs 26250 are active. Gold price tested a high of Rs 26825 per 10 grams on 26 August 2015 and a low of Rs 26225 per 10 grams. Open Interest for October contract was at 7408 as on 24 August 2015 against 7708 on 21 August 2015.

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