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MTECHTIPS;-GOLD & SILVER
Gold futures are trading higher in Asia session today however the gains were limited due to appreciation in the US dollar. Gold has been facing a technical resistance near $ 1700 levels and it may continue to trade in a range bound manner until it breaks those resistances and supports. The dollar's gains came despite an advance in Asian stocks and some commodities, including gold and crude oil. The ICE dollar index, which measures the greenback's performance against a basket of six other major currencies including the yen, rose to 79.629
from 79.561. Gold for June delivery is trading up $3 at $ 1654 per ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it ended higher by $1.4 or 0.1%, to end at $1,651.1 an ounce. MCX benchmark gold may initiate today's session near Rs 28470 levels with resistance near Rs 28570 levels. Yesterday the metal closed lower by Rs 79 (0.3%) at Rs 28,482 per ten grams. Prices rose to a high of Rs 28,585 per 10 grams and fell to a low of Rs 28,351 per 10 grams during the day's trading.
Gold futures are trading higher in Asia session today however the gains were limited due to appreciation in the US dollar. Gold has been facing a technical resistance near $ 1700 levels and it may continue to trade in a range bound manner until it breaks those resistances and supports. The dollar's gains came despite an advance in Asian stocks and some commodities, including gold and crude oil. The ICE dollar index, which measures the greenback's performance against a basket of six other major currencies including the yen, rose to 79.629
from 79.561. Gold for June delivery is trading up $3 at $ 1654 per ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it ended higher by $1.4 or 0.1%, to end at $1,651.1 an ounce. MCX benchmark gold may initiate today's session near Rs 28470 levels with resistance near Rs 28570 levels. Yesterday the metal closed lower by Rs 79 (0.3%) at Rs 28,482 per ten grams. Prices rose to a high of Rs 28,585 per 10 grams and fell to a low of Rs 28,351 per 10 grams during the day's trading.
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