Gold fell modestly when equities recovered from early weakness, taking away some of the near-term safe-haven buying. Still, worries about European sovereign debt persist, and as a result investors were still said to be buying gold on any price pullbacks. The metal is often viewed as a store of value in times of economic uncertainty. Now technically market is trading in the range as RSI for 18days is currently indicating 58.18, where as 50DMA is at 18012.28 and gold is trading above the same and getting support at 18555 and below could see a test of 18481 level, And resistance is now likely to be seen at 18749, a move above could see prices testing 18869.

Trading Ideas:

Gold trading range is 18481-18869.

Gold fell modestly when equities recovered from early weakness

Support for the gold is seen at 18570 and resistance is at 18690.

In spot gold looks to have a support at 1222$ and resistance at 1238$

BUY GOLD  @ 18600-630 SL 18560 TGT 18665-18690-18725.MCX (EVE WEAK)