MCX Gold under short covering Support seen at 31712
India, March 22 -- Technically Gold market is under short covering as market has witnessed drop in open interest by 1. 43% to settled at 7309 while prices up 122 rupees.Now MCX Gold is getting support at 31712 and below same could see a test of 31604 level And resistance is now likely to be seen at 31983 a move above could see prices testing 32146.Gold on MCX settled up 0.38% at 31819 as the U.S. Federal Reserve ruled out chances of any interest rate hike this year while a surprise cut in U.S. growth forecast added to concerns on global economic slowdown. Having downgraded the U.S. growth unemployment and inflation forecasts the Fed brought its three-year drive to tighten monetary policy to an abrupt end abandoning projections for any inter...
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