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Post  RaahiShah on Thu May 31, 2012 4:13 pm

GOLD (JUN) – MCX Gold surged above Rs. 29000 per 10 grams following gains in global prices as the metal continued to carve out an impressive recovery. The metal had rebounded from nearly four and half month lows of $1520 per ounce in the last week as safe haven buying finally came to the rescue of the commodity that has witnessed a free fall earlier. Gold had plummeted following a massive surge in the US dollar on worries of Grexit- Greece being ousted from Eurozone and returning to its old currency. Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:
SUPPORT 1: 28830
SUPPORT 2: 28745
RESIST 1: 29305
RESIST 2: 29565

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