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MTECHTIPS:-GOLD
Gold witnessed a sharp decline in yesterday’s session as the commodity dipped sharply on profit taking in the world markets. MCX Gold has resistance above the 29500 levels for the session ahead and holding above will open up 29800 levels. Support for Gold is seen 29200 levels and any dip below will test the support of 28700. Gold has corrected sharply from 30000 levels, strong supports around the 29000 levels may help the commodity to take some support at current levels.
Gold witnessed a sharp decline in yesterday’s session as the commodity dipped sharply on profit taking in the world markets. MCX Gold has resistance above the 29500 levels for the session ahead and holding above will open up 29800 levels. Support for Gold is seen 29200 levels and any dip below will test the support of 28700. Gold has corrected sharply from 30000 levels, strong supports around the 29000 levels may help the commodity to take some support at current levels.
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