In today�s trade, we expect gold prices to trade higher on account of expectations of delay in QE tapering program by the Federal Reserve. Further, a weaker DX will act as a positive factor. However, sharp upside will be capped as a result of decline in SPDR gold holdings.
Rupee depreciation will lead to further gains in precious metal prices on the MCX today.
Technical Outlook valid for October 25, 2013 Unit Support Resistance Spot Gold $/oz 1336/1327 1349/1353 MCX Gold Dec�13 Rs/10 gms 30400/30200 30700/30800 Spot Silver $/oz 22.50/22.30 22.80/23.00 MCX Silver Dec�13 Rs/kg 49700/49400 50400/50800
Market Highlights � Gold (% change) as on October 24, 2013 Gold Unit Last Prev. day WoW MoM YoY Gold (Spot) $/oz 1346.5 1.1 2.1 1.8 -20.9 Gold (Spot -Mumbai) Rs/10 gms 31800.0 0.6 2.6 7.3 6.7 Gold (LBMA-PM Fix) $/oz 1344.8 1.0 1.9 2.3 -21.2 Comex Gold (Dec�13) $/oz 1333.9 -0.6 0.8 -0.3 -21.9 MCX Gold (Dec�13) Rs /10 gms 30562.0 1.3 3.5 2.5 -0.9
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