Gold rose as bargain buying and speculation about a corresponding boost to physical demand lifted a market that had recently fallen to seven-week lows. Gold benefited from a lower dollar against the euro on buying by sovereign funds and strong German data but doubts Europe can boost a rescue fund to head off debt problems may prevent further gains of the single currency. Now technically market is trading in the range as RSI for 18days is currently indicating 45.69, where as 50DMA is at 20539.02 and gold is trading below the same and getting support at 20271 and below could see a test of 20208 level, And resistance is now likely to be seen at 20410, a move above could see prices testing 20486.

Trading Ideas:

Gold trading range is 20208-20486.

Gold yesterday ended positive on bargain buying.

Gold looks to take support at 20270 and resistance is at 20410.

Spdr gold trust holdings fell by 2.43 tonnes to 1256.90 tonnes.