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| GOLD TREND FOR TODAY |
MCX Gold is in its mixed trend and is advised to trade with caution in the gold. In the evening session, we expect precious metals, base metals and crude oil prices to trade with a sideways bias awaiting Federal Reserve interest rate decisions.
MCX Gold is prices scaled to new life high in a strong rally, after they broke-out from a consolidation range above 29450. We have always maintained our bullish view on the metal we could see more upside in the short-term. Prices now holds strong supports at long-term SMA’s i.e. 29200, 28715 and last at 28420.
