BUY GOLD OCT @ 31300 SL 31080 TGT 31520-31780
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R2
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R1
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S1
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S2
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TREND
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GOLD
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31500
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31360
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31250
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31130
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BULLISH
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Outlook: We expect gold prices to trade positive .
Gold: Gold trading range for the day is 31197-31501. Gold settled flat as markets shifted focus from comments by Fed official over the weekend to a meeting of global central bankers later this week. U.S. Federal Reserve Chair Janet Yellen may provide more clarity on interest rates in a speech at the meeting of central bankers. Indian gold refiner’s just months ago were ramping up capacity and struggling to secure enough ore from miners. Gold on MCX settled down -0.03% at 31370 traded in steady range in yesterday's session as traders weighed a trickle of economic data ahead of this week's big Jackson Hole meeting. While The flash manufacturing purchasing managers index from Markit fell to a reading of 52.1 this month from 52.9 in July. However, taking the July and August readings together suggests that manufacturing is enjoying its best growth so far this year in the third quarter, and should help drive stronger GDP growth. On Technically market is getting support at 31283 and below same could see a test of 31197 level, And resistance is now likely to be seen at 31435, a move above could see prices testing 31501.
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