MCX GOLD FEB - Gold Technically in Oversold - Consortium

- Gold trading range for the day is 30008-31206.

- Gold dropped after data showed that U.S. economy grew at faster rate than initially estimated during the third quarter of 2012.

- Gold down 3 pct in last three days, RSI shows gold oversold for first time since May 2012.

- Iraq bolster its gold reserves, while Brazil increased its holdings of bullion as per data from the IMF showed.

- Gold is trading below 50DMA, which is at 31636, now intraday gold is holding support at 30008 and resistance at 31206.

Source : Equity Bulls

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