 "gold")
The MCX Gold futures were seen testing support around the 200-DMA on the daily chart, while the Silver futures broke and close below the 50-WMA last week. Overall, the upside seems capped for Gold, with potential downside to Rs 48,900-level; while Silver may pullback owing to oversold conditions on the daily chart.
Gold
Bias: Neutral
Last Close: Rs 50,384
Support: Rs 49,880
Resistance: Rs 51,100
The MCX Gold futures cracked sharply in trades last week and were seen testing the 200-DMA (Daily Moving Average) on the chart, placed at Rs 50,300-odd level. In fact, last week, Gold futures tested the 50-WMA (Weekly Moving Average) at 49,880-odd
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