MCX Gold Trend
MCX Gold is looking good for today’s trading. Gold futures on MCX were trading higher as the rupee weakened against the dollar and as COMEX futures erased early losses and traded slightly higher. But our technical report suggest that MCX Gold April Contract is looking slightly negative for the day. Although it has a strong support at 30570-30460 level, and a resistance at 30840-30940 levels.
MCX Gold Tips: Sell is suggested around 30740 with a stop loss of 30840, for the target of 30570.
Commodity DATA:
- Gold slipped $2.04 an ounce to $1,670.56.
- Copper gains in london on china, before u.s. job.
- Crude fluctuates after u.s. supplies rise.
- Soyabean traded up in major spot markets on wednesday. meanwhile, soya futures traded down on profit taking.
Commodity News: In local markets Cotton traded unchanged, while it traded steady to down in Maharashtra and Gujarat on Wednesday. Total arrival reported around 1.84 lakh bales in the country. COMEX gold futures for April delivery settled up $5.30 an ounce at $1,678.80, with trading volume about 45 percent below its 250-day average.
