Gold yesterday traded in the tight range initially opened higher but as the day processed gains wipeout and gold settled flat down at 20923 that is down by -0.18, as investors continued to watch the unfolding unrest in Libya and other nations in the region as well as oil prices. The latest U.S. data showed a mixed picture. While the manufacturing sector roared forward this month, consumer spending barely edged up in January. Holdings in the SPDR Gold Trust slipped to 1,210.961 tonnes by Feb. 28, its lowest since mid-May last year. The dollar struggled to regain its footing in Asia on Tuesday after a steep decline, while the euro held firm as investors bet the Federal Reserve will stick to its easing course even as the ECB talks of tightening. now technically market is trading in the range as RSI for 18days is currently indicating 59.85, where as 50DMA is at 20496 and gold is trading above the same and getting support at 20819 and below could see a test of 20716 level, And resistance is now likely to be seen at 21083, a move above could see prices testing 21244.

Trading Ideas:

Gold trading range is 20716-21244.

Gold ended slightly down on profit booking after prices continued to seek refuge amid Middle East tensions

Gold is having support at 20840 and resistance at 21000 level.

Spdr gold trust holdings fell by 0.61 tonns to 1210.96 tonnes.

Gold / Silver ratio is at 41.65. Yesterday Gold FIX $ has closed higher at : 1411