Gold ended firm as the market was underpinned by a dollar drop and Federal Reserve Chairman Ben Bernanke's comment that he had no plans to scrap a massive bond-buying program, indicating interest rates will not rise anytime soon. Gold was trying to restore upward momentum after gaining more than 4 percent in the past 10 days, and a rise in Chinese interest rates for the second time in just over six weeks benefited gold's status as an inflation hedge. Now technically market is trading in the range as RSI for 18days is currently indicating 50.33, where as 50DMA is at 20534.98 and gold is trading below the same and getting support at 20313 and below could see a test of 20225 level, And resistance is now likely to be seen at 20460, a move above could see prices testing 20519.

Trading Ideas:

Gold trading range is 20225-20519.

Gold ended firm as the market was underpinned by a dollar drop and Bernanke's comment

Gold is having support at 20320 and reistance at 20472 level.

Spdr gold trust holdings fell by 2.42 tonnes to 1226.44 tonnes.