Technical Comment For The Day: Gold

The prices of MCX Gold closed at Rs 26247 per 10 grams, down 0.44 percent. The prices tasted decline for the third consecutive session. The prices dipped to levels of Rs 26131 per 10 grams. The prices tested a high of Rs 26334 per 10 grams. Volumes of Gold were 12056 in lots compared to 10467. Open interest for Gold moved higher to 5006 against 6752 on 27 October 2014. Supports for Copper are expected to remain at Rs 25950 per 10 grams. On the higher side, resistance for Copper is at Rs 26350 per 10 grams.