Gold edged down as the euro steadied against the U.S. dollar, but worries about Europe's debt woes still underpinned sentiment.  Gold imports in India, one of the biggest consuming nations, fell 39% in May year-over-year to 17-18 tons from the 28.6 tons recorded in May 2009. Now technically market is trading in the range as RSI for 18days is currently indicating 63.51, where as 50DMA is at 17474.1 and gold is trading above the same and getting support at 18339 and below could see a test of 18279 level, And resistance is now likely to be seen at 18479, a move above could see prices testing 18559.

Trading Ideas:

Gold trading range is 18279-18559.

Gold edged down as the euro steadied against the U.S. dollar

Support for the gold is seen at 18340 and resistance is at 18460.

Gold imports in India fell 39% in May year-over-year to 17-18 tons

BUY GOLD AUG ABV 18422 SL 18380 TGT 18456-18492-18525.MCX