AHMEDABAD (Commodity Online): MCX Gold climbed, setting the stage for a 7-weekly gain gain, as optimistic Chicago PMI data released yesterday evening.
MCX Gold April delivery contract rose by 0.20 percent to 28577 rupees per kilogram with good buying volume.
From fundamental perspective, MCX Gold looks bullish for coming months. Drop in prices is a remote possibility. My view is that uptrend is not ended yet. In ongoing month, I am expecting that Gold prices may heat above 29000 rupees , said Amrita Mashar, analyst with Commodity Online.
For near term, Gold is ready to sail above 28500 rupees per 10 grams tracking optimistic industry demand in global market.
Investors from global market are keeping their eye on US non-farm data due Friday evening. Ahead of this data, investors and speculators stay away from fresh deals from last two days which poised the incessant bull rally in Gold and Silver prices.
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