Gold tumbled, as a large number of investors cashed their gold holding and dollar gained strength against euro. A gold trader noted that the price of gold was not cheap, so it' s not surprising that some investors sold off their gold holding on high price. With consumers driven into buying gold, and a large chunk of savings being invested in the yellow metal, India will continue as the world's largest gold market, the World Gold Council said. Now technically market is trading in the range as RSI for 18days is currently indicating 62.19, where as 50DMA is at 19544 and gold is trading above the same and getting support at 20061 and below could see a test of 19889 level, And resistance is now likely to be seen at 20434, a move above could see prices testing 20635.

Trading Ideas:

Gold trading range is 19889-20635.

Gold tumbled, as a large number of investors cashed their holdings

Gold looks to take support at 20100 and resistance at 20350.

Spdr gold trust holdings fell by 1.21 tonnes to 1291.77 tonnes