MCX Tips

Gold continues to edge higher on the daily charts as technical factors continue to support the up move. The near term support for Gold has now moved up to around Rs 31,700-odd levels.

Most of the momentum oscillators continue to remain in buy mode for Gold. Hence, any dip should be looked as a buying opportunity, with a stop at Rs 31,680.

The weekly charts, indicate an upside target of Rs 32,500 for the Gold.

For today, the Gold MCX December futures may face resistance around Rs 31,865-31,880-31,900. On the downside, Gold MCX may seek support around Rs 31,760-31,745-31,730.

The corresponding key levels for Gold Mini December futures are as follows - support at Rs 31,770-31,755-31,740, while face resistance around Rs 31,875-31,890-31,910.