MTECHTIPS

mtechtips;- Gold to continue its buying spree at record high

Gold maintain its buying spreed for second day at record high levels of 30420 rupees per 10 grams in local market. MCX Gold August contract opened at 30343 rupees per 10 grams and gain by 0.14 percent to 30395 rupees in morning trades. Gold prices witness sea saw battle between gains and losses. but at the end of Monday's trading session managed to close almost 0.1 percent positive. Strength in US dollar Index capped further gain in Gold and Silver futures. According to Amrita Mashar, Senior analyst with Commodity online, Gold is expected to trade with positive bias on the back of rise in risk aversion in international market coupled with strength in Dollar Index.  For intra day trade, one can buy Gold August near Rs. 30250 with stop loss of Rs. 30100 for target near Rs. 30450. WWW.MTECHTIPS.COM07489294118