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MTECHTIPS:-GOLD
Gold witnessed another positive week as the commodity started the week around 28500 levels and tested 29100 levels, breaching the crucial resistance of 29000 in the process. MCX Gold will face strong resistance above the 29400 levels for the week ahead and holding above will open up 30000 levels. Gold has strong support below 28400 levels and any dip below will test the support of 28200. The current trend in gold is positive and a break out above 29400 levels will be extremely positive.
Gold witnessed another positive week as the commodity started the week around 28500 levels and tested 29100 levels, breaching the crucial resistance of 29000 in the process. MCX Gold will face strong resistance above the 29400 levels for the week ahead and holding above will open up 30000 levels. Gold has strong support below 28400 levels and any dip below will test the support of 28200. The current trend in gold is positive and a break out above 29400 levels will be extremely positive.
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