MCX Gold is trading above the all-time highs of 56190 hit in Aug 2020.Price is just trading above the all-time highs. So better to wait for a sustained close above 56200. If that happens it will be an ascending triangle breakout which might take prices much higher. Looking at COMEX gold it seems like the break might get confirmed. However, Rupee appreciation against the dollar might impact domestic prices. So better to wait for confirmed break to take view on MCX Gold. Will keep posted on breakout confirmation.
