Gold rose to life time high yesterday driven by similar factors worries over Europe's banking system and the global recovery that brought the yellow metal to all-time highs in June. Gold opened at 19010, before leaping higher as investors once again sought protection in safe haven assets amid renewed concern over a sustained recovery in Europe. After touching on a high of 19211, the metal drifted lower and then consolidated for the rest of the session, closing at 19169.Now support for the gold MCX is seen at 19046 and below could see a test of 18924. Resistance is now likely to be seen at 19251, a move above could see prices testing 19334.

Trading Ideas:

Gold trading range is 18924-19334.

Gold rose driven by worries over Europe's banking system and global recovery

On MCX gold looks to take support at 19045 and resistance at 19250 level

Gold ETF holdings rose 78,147 troy ounces to 5.835 million ounces - Zurich Cantonal Bank