Precious Metal::: MCX Gold is trading at 34,995 levels, 0.47% above from its previous close. The precious metal is likely to dance on the tunes of Core Consumer Price Index that measures the changes in the price of goods and services, excluding food and energy and guide the direction of the yellow metal further. On hourly scale, the precious metal has been bounced back after sensing support from 34,360 levels. RSI is trading at 65.61 levels showing no signs of divergence and oversold. The counter is trading above 50 hours Exponential Moving Average. Stochastic oscillator is trading in an oversold zone.