Covering at this level by strong hands will provide more legs to the rally, said derivatives analysts.
Options expiring on September 26 show that 10,800 remains the key support.
The incidents of fake bars being made and circulated by unscrupulous elements across the bullion trade is not new but of late their number has been proliferating , one of the sources said .
Sellers could pocket much of the premium with the market staying within the range.
On Friday, top 10 clients on the short side cumulatively held a whopping 13.7 lakh barrels.
If I am bullish on dollar, I could buy a ₹72 strike call at 6 paise a unit or ₹60 at contract level.
In crude mini contracts (10 barrels ) , the top 10 clients ‘ cumulative short is 3.45 lakh barrels against the top 10 longs of 57140 barrels on Sep 12 .
On September 4, gold futures in USD hit a six-year high of $1560 (Rs 39,013 ex GST).
Exchange offer jump in average quarterly price a big reason.
Rising OI put call ratio hints at positive sentiment for a very short term.
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