Gold prices were steady yesterday and traded in the range and settled marginal up by 0.15% at 20370 as investors await a raft of data, including China's inflation reading and the euro zone's economic growth numbers, after prices have been stuck in narrow ranges in the past few sessions. Holdings in the SPDR Gold Trust exchange-traded fund remained unchanged at 1,225.526 tonnes. Now technically market is trading in the range as RSI for 18days is currently indicating 49.88, where as 50DMA is at 20502.12 and gold is trading below the same and getting support at 20300 and below could see a test of 20230 level, And resistance is now likely to be seen at 20422, a move above could see prices testing 20474.

Trading Ideas:

Gold trading range is 20230-20474.

Gold rose on fears that Egypt's unrest could spread across the Arab world

Gold is having support at 20320 and resistance at 20440 level.

In spot gold is having support at 1352$ and resistance at 1372$.