WHY DECLINE GOLD Today || MCX GOLD TRADING IDEA in INDIA

Despite the weakness of the rupee against the U.S. dollar in the domestic market declined in gold. MCX Gold is at Rs 27800. The economy of the U.S. dollar rally has good data. The gold price in the international market has come down to $ 1,300.

Ideas:- Gold 5 October Watch 27925 level for full contract trade. If 27925 level break then price go for 28228 level if that level break then price go to 29010 level so that level watchful. If 29010 break then we see 29115 to 29450 If 29010 not break then price go down and we see down sides level like 27000, 26500, 26000 & 25500. If 28228 level not break then we see 27096 to 26735 levels. Its full contract levels and idea so note down that leaves and targets.

Trading Calls: Currently MCX Gold is trading 27950, We expected Gold may hit the upper levels of 28050, You should buy MCX Gold at current market levels and Targets 27990, 28030 stop loss 27885.

Read more »

BULLION COMMODITY WRAP & ANALYSIS FOR ADVICES

> Gold plunged to a 34-month low.

> Gold futures tumbled below $1,200 an ounce.

> Silver futures for September delivery dropped 0.3 percent to close at $18.553.

> Crude oil sustain near 97$.


Gold futures tumbled below $1,200 an ounce, extending a slump to a 34-month low, as U.S. economic data topped estimates by analysts, eroding the metal’s appeal as a store of value. In May, consumer spending rebounded and pending home sales jumped to the highest since 2006, while jobless claims fell last week. This quarter, gold has slumped 24 percent. The Dow Jones Industrial Average gained 3.1 percent. Silver futures for September delivery dropped 0.3 percent to close at $18.553 an ounce on the Comex. The metal has plunged 39 percent this year. The four-week moving average of jobless claims, a less volatile measure than the weekly figures, dropped to 345,750 last week from 348,500, according to the Labour Department.

Read more »