Gold rose the most in two weeks on skepticism that a Greek aid package will resolve the nation’s debt, boosting demand for the metal as a haven. The euro dropped for the fifth straight session against the dollar on European debt concerns. The yield premium investors demand to hold Greek 10-year bonds instead of benchmark German bunds climbed to the highest level since at least March 1998. Gold opened at 16630 and dipped to its intraday low of 16621 early in the session in light trading. The metal range traded most of the day until late session when Gold rose to its intraday high of 16759 as equities and crude made gains. Gold closed at 16728.

Trading Ideas:

Gold trading range is 16565-16841.

Gold rose on skepticism that a Greek aid package will resolve the nation’s debt

Support for the gold is at 16670 and resistance is at 16760.

In spot gold looks to have resistance at 1154$ and support at 1136$.

SELL GOLD JUNE @ 16715-16730 SL 16772 TGT 16698-16666-16635.MCX