MCX Gold under short covering Support seen at 42994
India, March 30 -- Technically Gold market is under short covering as market has witnessed drop in open interest by 80. 74% to settled at 359 while prices up 29 rupees.Now MCX Gold is getting support at 42994 and below same could see a test of 42417 levels and resistance is now likely to be seen at 43954 a move above could see prices testing 44337.Gold yesterday settled up by 0.07% at 43571 as the likely passage of a $2.2 trillion U.S. package helped soothe worries of a global recession following the coronavirus outbreak and also looked set to increase the Federal Reserve s balance sheet substantially.Bullion has gained last week supported by weak U.S. unemployment data and the Federal Reserve's unprecedented economic stimulus measures.Inve...
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