Gold eased as global equity markets rallied, signalling a return of investor confidence in risky assets, which encouraged traders to offload some of their long positions in the safe-haven metal. Sentiment got a lift thanks to the Reserve Bank of Australia's cautious but fairly upbeat assessment of the global economy in a statement that accompanied its rate decision. Now technically market is trading in the range as RSI for 18days is currently indicating 45.57, where as 50DMA is at 18525 and gold is trading below the same and getting support at 18234 and below could see a test of 18124 level, And resistance is now likely to be seen at 18496, a move above could see prices testing 18648.

Trading Ideas:

Gold trading range is 18124-18648.

Gold eased as demand for the metal as an alternative investment waned

Gold looks to take support at 18270 and resistance at 18410.

Spdr gold trust holdings fell by 2.43 tonnes to 1316.48 tonnes

GOLD LOOK TO HOLD SUPPORT AT 18250 LEVEL WILL WAIT TO TAKE POSITION.