Gold finished flat recovering from its lows after a European Central Bank tender ended up having a mixed impact on the metal. Gold opened at 18870, and the metal retreated to a low of 18770 on an advancing dollar. Gold later ascended to a high of 18890 as funds, anticipating lucrative opportunities, parlayed into the commodity amid a retreating dollar and encouraging vestiges from Europe. The metal ended the session faintly lower at 18852.Now support for the gold MCX is seen at 18785 and below could see a test of 18717. Resistance is now likely to be seen at 18905, a move above could see prices testing 18957.

Trading Ideas:

Gold trading range is 18717-18957.

Gold finished flat recovering from its lows after a ECB tender ended up

Gold looks to take support at 18780 and resistance at 18940.

IMF gold holdings declined 15.25 tons in May

BUY GOLD AUG @ 18800 SL 18766 TGT 18828-18856-18890.MCX