MCX Gold prices down october 31 2011

MCX Gold prices down october 31 2011 : MCX Gold is trading down by almost 0.80% on Monday morning after Japanese intervention Lead to a stronger dollar.

MCX gold December is trading at Rs 27337 after opening at Rs 27510 while Comex gold December is trading at $1719, down $27.3

apanese government intervened in the foreign exchange market to weaken the Yen. This sent the dollar on a surge of 1% against a basket of currencies. Stronger dollar exerts pressure on dollar denominated commodities like gold. Comex prices had risen to $1746 only to fall down to currently trade at $1719.

Technical target by Angel Commodities for October 31

Support seen at Rs 26620 and Rs 27103 while Resistance expected at Rs 27658 and Rs 28292