MCX Gold declines after three day rally

MCX Gold prices inched lower giving gap down opening in today’s session.

Dec 28, 2018 06:12 IST India Infoline News Service

Comex gold futures settled higher by $8.10 at $1,281.10/troy ounce on Thursday. It was the eighth positive close in nine days of trading for the yellow metal. In Wednesday's session, it hit a six-month high of $1,282.30. While gold's latest advance was due to fresh tremors on Wall Street that erased more than 400 points of the previous day's 1,000-point gain in the Dow, the precious metal had barely conceded ground since the December Federal Reserve rate hike that many analysts believe will be the central bank's last increase for some time to come.
 
Gold Price Update
 
COMEX Gold Price (Prev. Close) $ 1277.05
% Change 0.42
Gold price in India today (per 10 gms) 31,650
% Change -0.20
Source: IIFL Research

MCX Gold prices inched lower giving gap down opening in today’s session. However, yesterday we saw some strong positive move. Outlook for MCX gold remains positive as prices are trading in higher top higher bottom formation. Immediate support lies near 31500, while resistance stands at 31,750 levels.

Gold Rates - Spot & Futures


Date Spot Price (Rs) Futures Price (Rs)
27-Dec-18 31,436.00 31,713.00
26-Dec-18 31,411.00 31,559.00
24-Dec-18 31,254.00 31,460.00
21-Dec-18 31,115.00 31,193.00
20-Dec-18 30,931.00 31,311.00
19-Dec-18 30,975.00 31,227.00
18-Dec-18 31,292.00 31,163.00
17-Dec-18 31,302.00 31,630.00
14-Dec-18 31,363.00 31,553.00
13-Dec-18 31,431.00 31,527.00
12-dec-18 31,581.00 31,732.00
11-dec-18 31,621.00 31,935.00
10-Dec-18 31,451.00 32,028.00
07-Dec-18 30,922.00 31,595.00
06-Dec-18 31,097.00 31,089.00
05-Dec-18 31,097.00 31,089.00
05-Dec-18 30,820.00 31,075.00
04-Dec-18 30,825.00 31,106.00
03-Dec-18 30,526.00 30,889.00
30-Nov-18 30,269.00 30,240.00
29-Nov-18 30,375.00 30,204.00
28-Nov-18 30,418.00 30,434.00
27-Nov-18 30,648.00 30,402.00
26-Nov-18 30,669.00 30,547.00
22-Nov-18 30,903.00 30,609.00
21-Nov-18 30,810.00 30,825.00
 Source: mcxindia, IIFL Research

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