Gold surpassed 20300 for the first time when investors bought the metal as a currency hedge before the talks by the Group of 20 nations later in the week. The sales figures for the festival week haven't been computed yet, but the World Gold Council expects gold sales in the week to Nov. 6 to rise by upto 40 percent from 56 tonnes in the year-ago period. Gold opened on its low\s at 19996. Strong buying interest as investors worried about euro debt, took gold out of its sluggishness, eventually reaching an all time high of 20375. Gold quietly ended the day at 20336. Now support for the gold MCX is seen at 20096 and below could see a test of 19857. Resistance is now likely to be seen at 20475, a move above could see prices testing 20615.

Trading Ideas:

Gold trading range is 19857-20615.

Gold ended higher as investors bought the metal as a currency hedge

Gold looks to take support at 20220 and resistance at 20440.

Spdr gold trust holdings rose by 2.43 tonnes to 1294.20 tonnes