Global refined production rose to 23.46 million tonnes up 2.1 per cent compared with the previous year.
On the higher side, Rs 405 per kg remains a key resistance level.
Further appreciation from here can take prices close to INR 405 and 407 per kg.
Copper has rallied lately as a result, hitting its highest levels since May 2015 overnight.
Gains are expected in Copper with opening can be near Rs 406 per kg.
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Technical comment for the day: Gold