I think there was an overextension of price on the daily chart,that trend has already broken. Monthly has still a drown trend and I think it will realign with that trend. So down for me. Not taking any trades though, unless I got a clear daily trend (down).
Pure gold (99.9 purity) also moved down by a similar margin to end at Rs 28,070 per 10 grams as against Rs 28,175 last weekend. However, silver (.999 fineness) climbed by Rs 115 to close at Rs 38,875 per kg as compared to Rs 38,760 previously. On the global front, gold prices eased in early trade as buyers cashed in gains after the metal posted its biggest monthly rise in three years, but a shaky outlook for the global economy underpinned its appeal as a haven from risk. Spot gold was bid down at $1276.80 in early European trading and silver moved down at $17.15 an ounce.
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