MTECHTIPS MCX Gold in sideways; may remain between Rs 26300 to Rs 26500 range

MTECHTIPS:-MCX Gold in sideways; may remain between Rs 26300 to Rs 26500 range

The trend in gold futures for June delivery on India's Multi Commodity Exchange (MCX) looks sideways and prices are expected to remain in the range between Rs 26300 to Rs 26500 for the day.“For intra-day, support for the commodity is seen at Rs 26,300 and below that it may test the level of Rs 26100. Resistance is at Rs 26500 and above that it may test the level of Rs 26650.“Intra-day traders are advised to buy on dips for the day near Rs 26380 with stop loss of Rs 26,300 for target near Rs 26,500,” added Amrita.MCX gold for June delivery was seen trading up by 0.03% at Rs 26414 per 10 grams as of 05.13 PM IST on Monday.Gold futures in the domestic market edged up tracking gains in the international market.Gold futures for June delivery on Globex platform of Comex was seen trading up by 0.46% at $1393.95 per troy ounce as of 05.28 PM IST on Monday.Meanwhile, Holdings in SPDR Gold Trust, declined 0.24% to 1,016.16 tons on Friday, lowest since mid-February 2009.