Taking prompts from abroad markets, gold futures prices today fell 0.22 percent to Rs 27,120 per 10 grams as speculators offloaded their positions.
Gold may trade lower in today’s session, from the previous week it recorded the immense measure of unpredictability in the market taking after the major economic and monetary policy related events in the US.
On an intraday premise, we anticipate that gold prices will trade lower on reinforcing dollar coupled with stronger bond yields in the US and Europe. Falling oil prices will likewise lessen the inflation fence bid of the yellow metal.
On the MCX, gold prices are expected to trade lower taking signs from international markets.
Gold MCX: Sell at 26970-26980 TP 26800 SL 27110