Gold in India Heading to Lowest Since May: Technical Analysis
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Gold futures in Mumbai are set to decline within a month to levels last traded in May, according to technical analysis by Angel Commodities Broking Pvt.
The relative-strength index signals that futures on the Multi Commodity Exchange of India will probably drop to a support level of 28,700 rupees per 10 grams ($1,645.03 an ounce), a senior technical analyst Dhanik Shah said. That would be the lowest intraday level since May 18.