Gold Update @ 04:30 PM : Prices have breached the resistance at $1621.5 (previous day high) and currently ticking at $1624.4 levels. Sustained trades above $1621.5 may lead the gains to continue towards $1635 levels. Key support level to watch for intraday is at $1610, which is likely to hold positve view. At MCX prices are likely to move higher as long as 29730 support remains intact.
Break above 29880 would trigger fresh buying towards 29940/30020 levels. Buying on dips would be an ideal strategy. CMP 29805