Commodity Report

GOLD HITS OVER SIX-MONTH HIGH ON SIGNS OF AILING GLOBAL ECONOMY
Gold prices scaled a more than six-month peak in international market as fears of a global economic slowdown embellished safe-haven demand for bullion, with a weaker dollar adding further support.

Technical overview:
Gold MCX Fut has break a major resistance level of 31750 and sustaining above it. Overall MCX Gold Fut is looking bullish on charts. Now Gold is near major psychological level of 32000. On the upside if it breaks the level of 32000 then it can test the level of 32148 & 32248. On the downside if it breaks 31500 then it can test the levels of 31350-31260

Support & Resistance
R1- 32000, R2-32148
S1- 31500, S2-31350