Mcx gold intraday report for 8th November 2016 future last closed at 30048 with heavy loss. As expected gold coming off from overbought zone and achieved my target of 30150, already booked with profit. We saw low near 30k. For intraday outlook remain bullish and expect bounce back up to 30350 to 30500 on short covering. On downside 30k and 29800 are strong support zones as well as fresh long entry zones for short term traders. Above 30150, gold positional target will remain at 30950+.