Gold yesterday made a life time high of 18540 as the metal continuing to benefit from its role as a safe haven due to worries about credit issues in Europe and tensions on the Korean peninsula. Gold opened the day on its lows at 18190. The metal progressed to a high of 18540, as slumping equities induced safe haven bidding. The metal finally settled near its high at 18511.Now support for the gold MCX is seen at 18287 and below could see a test of 18064. Resistance is now likely to be seen at 18637, a move above could see prices testing 18764.

Trading Ideas:

Gold trading range is 18064-18764.

Gold yesterday made a life time high as metal continuing to benefit from its role as a safe haven

Support for the gold is seen at 18470 and resistance is at 18560.

In spot gold looks to have support at 1192$ and resistance at 1208$

BUY GOLD JUNE @ 18400-440 SL 18340 TGT 18480-18522-18595.MCX