Gold prices rose as uncertainties about the global economic outlook amid renewed concerns about the US economy continued to attract investors to less risky assets. The dollar retreated against the euro for a second straight session, which also supported bullion's upward movement. Gold opened at 18658, as an ardent dollar forged ahead, exploiting investor trepidation that the global economic recovery would falter. The metal swiftly hit a low of 18595, before a peripeteia in the dollar drove the commodity to a high of 18854. Gold trundled, closing the day at 18790.Now support for the gold MCX is seen at 18639 and below could see a test of 18487. Resistance is now likely to be seen at 18898, a move above could see prices testing 19005.

Gold trading range is 18487-19005.

Gold yesterday ended positive on lingering economic concerns

Gold looks to take support at 18730 and resistance at 18860.

Spdr gold trust holdings rose by 3.05 tonnes to record high at 1316.18 tonnes

BUY GOLD AUG @ 18680-700 SL 18650 TGT 18734-18770-18820.MCX