MCX Gold under short covering Support seen at 38006
India, Nov. 7 -- Technically Gold market is under short covering as market has witnessed drop in open interest by 0. 5% to settled at 14459 while prices up 366 rupees.Now MCX Gold is getting support at 38006 and below same could see a test of 37766 levels and resistance is now likely to be seen at 38386 a move above could see prices testing 38526.Gold gained as the dollar weakened a bit and equities stayed largely subdued. Reports about the U.S. and China considering rolling back some tariffs as they aim to finalize a partial trade deal helped trigger some interest in the yellow metal.Support seen after Goldman Sachs Group raised concerns of a US recession as the trade war with China intensifies boosting the impact on economic growth. Inves...
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