Gold rose bouncing off their lows as investors sought to buy at a discount from recent high prices. Prices were also lifted by a decline in the euro on skittishness ahead of the Friday's release of the results of stress tests on European banks. Gold opened at 18273, gold resigned to an intraday low of 18191. Much to the consternation of the hobbled U.S. dollar, the metal exploited the greenback, nourished by exuberant fund procurement to a high of 18350. The commodity finally settled the session at 18339.Now support for the gold MCX is seen at 18237 and below could see a test of 18134. Resistance is now likely to be seen at 18396, a move above could see prices testing 18452.

Trading Ideas:

Gold trading range is 18134-18452.

Gold rose as investors sought to buy at discount from recent high prices

Gold looks to take support at 18260 and resistance at 18400.

Spdr gold trust holdings fell by 6.08 tonnes to 1308.13 tonnes