Gold settled higher after a flurry of disappointing economic data rejuvenated investors' recent flight to safety. Gold moved higher as U. S. equities were falling on the back of a surprise jump in U. S. jobless claims, which are now back at the half-million mark, as well as indications that some regions of the U. S. are seeing a slowdown in manufacturing, one of the few sectors of the economy that has continued to show strength and add jobs. Now support for the gold MCX is seen at 18683 and below could see a test of 18592. Resistance is now likely to be seen at 18828, a move above could see prices testing 18882.

Trading Ideas:

Gold trading range is 18592-18882.

Gold settled higher after a flurry of disappointing economic data

Gold looks to take support at 18680 and resistance at 18830.

Spdr gold trust holdings rose by 3.95 tonnes to 1299.47 tonnes