Gold ended flat recovering its losses after falling due to stronger U. S. economic data and easing concern over civil unrest in Egypt. Stronger than expected U. S. economic data further undercut investors' desire for gold. Gold has lost around 6% this year as cautious optimism about the global economy and strength in equities markets erodes the appeal of the precious metal as a refuge asset. Gold is bought by some investors because it isn't as tied to economic cycles as other investments like industrial metals or stocks. Now technically market is trading in the range as RSI for 18days is currently indicating 39.45, where as 50DMA is at 20628.86 and gold is trading below the same and getting support at 20046 and below could see a test of 19923 level, And resistance is now likely to be seen at 20287, a move above could see prices testing 20405.

Trading Ideas:

Gold trading range is 19923-20405.

Gold ended flat recovering its losses after falling on stronger U. S. economic data and easing concern over unrest in Egypt.

Support for the gold is seen at 20120 and resistance at 20240 level.

Spdr gold trust holdings rose by 3.03 tonnes to 1227.15 tonnes.

BUY GOLD APRIL ABV 20200 SL 20150 TGT 20235-20260-20285. MCX

Gold / Silver ratio is at 47.41. Yesterday Gold FIX $ has closed lower at : 1327