Gold Updates

Gold after a sharp rally in the preceding two trading sessions cooled-off a wee bit owing to profit taking at higher levels.

However, going ahead the bias is likely to remain positive as long as Gold sustains above the short-term 20-day DMA - which is currently at Rs 31,000. On the upside, Gold can rally to Rs 31,450-odd levels.

For today, the Gold MCX December futures may face resistance around Rs 31,365-31,415-31,470. On the downside, Gold MCX may seek support around Rs 31,045-30,995-30,945.

The corresponding key levels for Gold Mini December futures are as follows - support at Rs 31,060-31,000-30,950, while face resistance around Rs 31,375-31,425-31,475.