ByThe dollar index turned highly volatile last month after US Federal Reserve policy minutes. We expect that gold will continue to take support at lower levels in the international market and $1,320-1,330 would act as major support for gold. Locally, the yellow metal has strong support in Rs 30,300-30,200 zone. We have seen correction up to $1,322 again due to profit booking at higher levels.On the weekly chart, gold is holding strong support in $1,300-1,308 zone while facing strong resistance in $1,353-1,360 zone. Investors could buy in the range of Rs 30,300-30,380 with the strict stop loss below Rs 30,200 on a closing basis for the upside target of Rs 30,700-30,850.Buy gold around Rs 30,300-30,380.

Source: Economic Times March 02, 2018 06:45 UTC