Gold ended higher yesterday fueled by safe-haven demand as the euro plunged to a 14-month low for fear of contagion from the Greece's debt crisis. Gold opened on MCX at 17300. Gold quietly traded down to its intraday low at 17295 early in the session. Despite a stronger dollar, Gold recovered, trading higher as continued fund buying took the metal to its intraday high of 17800 late in the session. Gold closed at 17763. Now support for the gold MCX is seen at 17439 and below could see a test of 17114. Resistance is now likely to be seen at 17944, a move above could see prices testing 18124.

Trading Ideas:

Gold trading range is 17114-18124.

Gold ended higher yesterday fueled by safe-haven demand

Support for the gold is seen at 17720 and resistance is at 17810.

Traders are adviced to avoid big positions in the market as mkt will be volatile.

BUY GOLD JUNE @ 17600-640 SL 17560 TGT 17668-17700-17780.MCX