Gold slightly pared small gains after a stronger-than-expected U.S. jobless claims reading, but the metal remains in positive territory amid general market skittishness and a weaker U.S. dollar. After the session higher 19033, gold slumped to a low of 19002 as the dollar rallied amid ebbing risk sentiment in advance of the U.S. housing and jobless claims figures, and today’s non-farm payrolls figure. The metal was later lifted to a high of 19088 as the dollar retreated as higher pending U.S. home resales enhanced investor risk-appetite, before profit taking carried the commodity to its close of 19043.Now support for the gold MCX is seen at 19001 and below could see a test of 18958. Resistance is now likely to be seen at 19087, a move above could see prices testing 19130.

Trading Ideas:

Gold trading range is 18958-19130.

Gold slightly pared small gains after a stronger-than-expected U.S. jobless claims reading

On MCX gold looks to take support at 19000 and resistance at 19100 level

Spdr gold trust holdings fell by 9.12 tonnes to 1294.91 tonnes