Gold edged down towards the lower end of narrow trading range after the release of positive US jobs data, with a soft dollar and year-end fund buying limiting falls. Gold opened on its intraday high of 20765, turning lower after better than expected jobless data the metal continued a slow decline as equities reversed early morning gains, eventually reaching an intraday low of 20685 and settle at 20702. The RSI is just 58, which suggests gold is still a long way from overbought but unfortunately, there are several indicators which leave us cautious about the medium term. now technically market is trading in the range as 50DMA is at 20473.12 and gold is trading above the same and getting support at 20666 and below could see a test of 20619 level, And resistance is now likely to be seen at 20779, a move above could see prices testing 20845.

Trading Ideas:

Gold trading range is 20619-20845.

Gold edged down after the release of positive US jobs data, with a soft dollar and year-end fund buying limiting falls

Gold looks to take support at 20645 and resistance at 20745.

Holdings in SPDR Gold Trust,  remained unchanged at 1,284.062 metric tons.

SELL GOLD FEB @ 20730-750 SL 20775 TGT 20700-20675-20640.MCX

Gold / Silver ratio is at 45.88. Yesterday Gold FIX $ has closed lower at : 1372.17