AHMEDABAD (Commodity Online): MCX Gold rose as bullion moved in line once again with riskier assets in global market.
International, Gold futures ended higher Friday, as optimism once again with equity market hoping that European leaders will be able to contain the region's debt crisis.
MCX Gold December delivery contract rose by 0.40 percent to 26897 per 10 grams. Support for contract looks at 26500 and resistance stays at 26900.
Gold has dropped 11 percent since the end of August as escalating debt woes threatened global growth and commodity demand. Despite this fall the metal has advanced 15 percent this year.
Gold demand is expected to remain optimistic for this week due to Diwali and marriage season in October and Christmas in December, informed Amrita Mashar, analyst with Commodity Online.
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