Gold Hourly Update 11 AM : Gold prices are trading at 29604 down by 0.19%, Overall trend for gold prices is still bullish. prices have immedaite support of 29580 once breaches this levels it may touch 29560 levels while on the upper side prices amy touch 29640 levels if break it may touch 29680 levels. Intraday traders may use buy at lower levels strategy.
Gold Update at 1PM: Prices are witnessing rising trend line support around 29520-530 levels in the daily price chart. On sustainable trade above the same might support prices to trade towards higher side for remaining trading hour, Possible intraday targets are seen around 29645/29730 levels. Expected trading range for coming hour is 29560-645 levels
Gold Update at 4 PM: As updated earlier prices are trading lower at MCX platform due to rupee factor where as at comex it is trading in opposite direction. Prices are witnessing a strong support near 29530 levels which is likely to hold upside view.
Break above 29610 would lead the gains towards 29670 levels. Trading range expected to be $1605-1615 with upside bias. CMP $1610.2. We suggest buying on dips with stop loss below 29525 for a possible target of 29610/29640. CMP 29574