Gold ended higher when investors, still worried about euro-zone debt issues, used last week's price retreat as an opportunity to increase safe-haven purchases of the metal. Tensions on the Korean peninsula prompted further buying of gold as a refuge. Gold advanced over the weekend to open the week at 18020, its low for the session is at 17968. After a lackluster morning with little trading activity, the metal spiked to hit a high of 18185 prior to close, on good fund buying. A quiet trading saw gold close the day at 18165. Now support for the gold MCX is seen at 18027 and below could see a test of 17889. Resistance is now likely to be seen at 18244, a move above could see prices testing 18323.

Trading Ideas:

Gold trading range is 17889-18323.

Gold ended higher as investors price retreat as an opportunity to increase safe-haven purchases

Support for the gold is seen at 17950 and resistance is at 18030.

Spdr gold trust holding rose by 16.74 tonnes to 1236.89 tonnes

SELL GOLD @ 18275 SL 18316 TGT 18252-18215-18180.MCX