Gold prices held steady after the early gains on weaker dollar on Wednesday, after rising for two consecutive sessions with aid from inflation concerns, while the SPDR Gold Trust holdings fell to a nine-month low, as investors continue to watch the development of the Middle East unrest. Yesterday gold opened at 20370 and jumped to its day's high of 20545 on weaker dollar and finally settled at 20500.

Holdings in the SPDR Gold Trust fund, slipped to 1,224.008 tonnes by Feb 15, its lowest in nearly nine months. Now technically market is trading in the range as RSI for 18days is currently indicating 53.72, where as 50DMA is at
20498.52 and gold is trading above the same and getting support at 20380 and below could see a test of 20261 level, And resistance is now likely to be seen at 20582, a move above could see prices testing 20665.

Trading Ideas: Gold trading range is 20261-20665. Gold rose as inflation worries sparked a technical breakout Gold is having support at 20420 and resistance at 20570 level. Spdr gold trust holdings fell by 1.52 tonnes to 1224.01 tonnes. Gold / Silver ratio is at 44.71. Yesterday Gold FIX $ has closed higher at : 1372.75