Gold eased as investors booked profits after prices hit record highs the day before, but sentiment was underpinned by a weak dollar which makes bullion cheaper for holders of other currencies and boosts its appeal as an alternative asset. Gold has jumped 32 percent this year, rising 12 percent in November alone.

Now technically market is in overbot as RSI for 18days is currently indicating 87.77, where as 50DMA is at 16242.4 and gold is trading above the same and getting support at 17479 and below could see a test of 17429 level, And resistance is now likely to be seen at 17584, a move above could see prices testing 17639.

Trading Ideas:

GOLD TRADING RANGE IS 17300-17700.

GOLD EASED AS INVESTORS BOOKED PROFITS AFTER PRICES HIT RECORD HIGHS

BUY GOLD DEC @ 17550-17570 SL 17528 TGT 17595-17622-17648.MCX

GOLD HAS JUMPED 32 PERCENT THIS YEAR, RISING 12 PERCENT IN NOVEMBER ALONE

SPDR GOLD HOLDINGS INCREASED BY 0.91 TONNES AND SETTLED AT 1122.37 TONNES