MTECHTIPS

MTECHTIPS:- GOLD
Gold futures are trading mildly lower in Asia session today as Asian equities traded mixed
thereby supporting the metal from falling much. Gold may trade in a range bound manner
today following the volatile moves in past few days. Yesterday, MCX gold for June delivery
closed higher by Rs 27 (0.09%) at Rs 28,678 per ten grams. Prices rose to a high of Rs
28,728 per 10 grams and fell to a low of Rs 28,453 per 10 grams during the day's trading. It
may open lower today with expected support near Rs 28600 levels and resistance near Rs
28700 levels. Gold for June delivery ended lower by $10.3 or 0.6%, to end at $1,594.2 an
ounce on the Comex division of the New York Mercantile Exchange on Wednesday.