MCX Gold Technical Comment For 06 Feb 2015

Gold prices trimmed down after gains that looked to be continuing on Thursday. The prices ended the day at Rs 27301 per 10 grams against Rs 27402 per 10 grams. The correction below Rs 27300 and Rs 27100 can be a active trigger for further declines. The prices are below resistance of Rs 27420 per 10 grams. Gold prices tested a high of Rs 27649 per 10 grams and a low of Rs 27200 per 10 grams Volumes for April contract was at 17703 against 15341 on Thursday.
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