Gold prices hover near support level

Mumbai-India (Feb 19)  Gold is trading sideways in a small range between 30,720 and 30,800 levels. Intermediate support can be seen near 30,700 levels.

 

 Close below 30,700 will be negative for prices and it can come down till 30,500 levels. On the other hand, close above 30,800 will trigger buying in gold and it could touch multi-month high of 31,000 levels. Volatility in dollar index is crucial for gold prices.

HFL