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MTECHTIPS;- Gold Gains On Technical Cues, Bargain Buying

Tuesday, February 13, 2018 5:50

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MTECHTIPS;- Gold Gains On Technical Cues, Bargain Buying

MTECHTIPS-Gold edged up on technical cue even as equities rose. COMEX Gold futures have dropped in a quick manner over last few days. The metal has been witnessing persistent slide after topping out at its four month high of $1370 per ounce in third week of January 2018. The counter ahs dropped around $60 from that mark and some buying is emerging at its two month low now. Technical cues supported the commodity as the metal managed to witness decent buying after testing its 100 day Exponential Moving Average (EMA) on a persistent basis over last one week. The COMEX Gold futures are currently trading at $1330.40 per ounce, up 0.30% on the day. MCX Gold futures should edge up in the evening trades following these cues. The local futures closed just above Rs 30150 per 10 grams yesterday and should rise in the shortened session today

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