Gold prices near two week low

Mumbaii-India (Nov 21)  Gold prices broke the important support level of 29,420 and gave a daily close below it. RSI on daily chart is also below 60 level, indicating low momentum in prices. The prices are expected to come down till 29,100 in a few trading sessions.



Fundamentally speaking, ongoing political uncertainity in Germany has strengthened the dollar against Euro, a move which has a negative impact on Gold prices. Overall, trend is weak for prices. We expect a bounce back in Gold only if prices is able to give a daily close above 29,420 levels.
 
HFL

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