MCX Gold MCX Gold prices soared to all time high it climb very close to the 41500 mark on Tuesday led by new virus cases was preserved in check by worries about the economic fallout of the epidemic. The rise in the number of new virus cases reduced in China's Hubei area even as the death total increased by 132 on Tuesday. U.S. dollar too measured a safe-haven investment tool at the times of economic and political worries; it remained beyond the more than four-month high against key rivals. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and also weigh on the U.S. currency.
On the Tuesday, MCX Gold is closed at 41420 levels 1.63% higher; yesterday it was opened at 40900 which was identical with the day’s low and it pushed Gold price higher side to 41480. On the hourly chart MCX Gold is trading above 20 DMA, Super trend line indicates that there is support can be seen around 41200 levels if MCX Gold is trading below super trend line then it can be turned negative. From the RSI front it is trading around 72.04 levels which indicate positivity in the Gold price. It looks like for MCX Gold there will be strong support can be seen around 41200 levels & strong resistance can be seen around 41500 levels.