Gold prices to trade higher on Monday, propped up by a weaker dollar and sluggish economic data from the United States, while the Lunar New Year holiday in Asia was seen limiting gains.

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Daily MCX Newsletter
30th Jan 2017
2017
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PRECIOUS METALS:
Gold prices to trade higher on Monday, propped up by a weaker dollar and sluggish economic data
from the United States, while the Lunar New Year holiday in Asia was seen limiting gains.
ENERGY:
Crude Oil prices extended declines on Monday, dragged down by signs of growing output in the United
States that would partly offset production cuts by OPEC and other producers.
BASE METALS:
Base metals are complex may open on weaker note as US home sales data to give further direction to
the prices. China markets are closed for Lunar year holidays till 2nd February.
MARKET WRAP

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PIVOTS LEVEL:
GOLD(FEB)
RESISTANCE2:28750
RESISTANCE1:28570
SUPPORT1:28200
SUPPORT2:28000
SILVER (MARCH)
RESISTANCE2:42500
RESISTANCE1:42000
SUPPORT1:41000
SUPPORT2:40700
CRUDE OIL (FEB)
RESISTANCE2:3720
RESISTANCE1:3670
SUPPORT1:3560
SUPPORT2:3500
COPPER (FEB)
RESISTANCE2:412
RESISTANCE1:408
SUPPORT1:398
SUPPORT2:394

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GOLD
CALL BUY : GOLD FEB ABOVE 28425 TARGETS 28625/28825 STOP LOSS 28200
CHART OF THE DAY

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