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Technical Comment For The Day: Gold

Gold remained static for the last trading day of the week. The prices of MCX Gold for December expiry ended the day at Rs 26351 per 10 grams against Rs 26349 per 10 grams. The volumes in the contract have been moving lower considering the expiry date that is coming near. Gold dropped for the third straight session on Friday. The prices tested a high of Rs 26404 per 10 grams and a low of Rs 26050 per 10 grams. Gains in Gold is expected to face resistance at Rs 26500 per 10 grams, on the lower side, supports for the contract is at Rs 26100 per 10 grams.

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