While the unit remains above 1070 the risk remains for higher prices. now technically market is in overbot as RSI for 18days is currently indicating 75.18, where as
50DMA is at 15994 and gold is trading above the same and getting support at 16787 and below could see a test of 16690 level, And resistance is now likely to be seen at 16858, a move above could see prices testing 16916.

Trading Ideas:

GOLD TRADING RANGE IS 16550-17050.

GOLD HAS COMPLETED ITS SECOND UP WEEK OFF OF CORRECTION

BUY GOLD DEC 16760-16780 SL 16738 TGT 16802-16830-16862. MCX

SPDR GOLD TRUST HOLDINGS DROOPED BY 0.61 TONNES TO 1113.83 TONNES

GOLD IS HAVING IMP SUPPORT AT 16760 BELOW THIS LOOKS TILL 16710-16650.

GOLD / SILVER RATIO IS AT 63.83. YESTERDAY GOLD FIX $ HAS CLOSED LOWER AT : 1104

Commodity Analysis by Kedia Commodity, India's Premium Research House,
Mumbai. Check out more commodity reviews at KediaCommodity. com