October 07, 2011

MCX Gold Live Rates Levels

MCX Gold Live Rates at current at 6:00 PM IST is 26495.00  - (0.06%) with a negative bias. The Gold futures Prices rose for a second day in a row. Gold prices have taken support just above the lower end of dynamic rising trend line channel, ie near 26350-300 levels.  For the day we favor a quiet high probability that it may gave a breakout form the trend channel and take prices as low as 26140/25850 but unlikely to break 25800. 

MCX Gold Live Support and Resistance Evening 07 October
The overall trend is consolidate but the near term is showing a downtrend for the market. 

MCX Gold Pivot is at 26351
R2 26680 R1 26450
S1 26240 S2 25860
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