Gold yesterday hits all time high when investors sought the metal for protection against economic uncertainty after a report said European banks face sizeable write-offs. The appreciation of the dollar against the rupee too is contributing to the spurt in gold prices. Now technically market is trading in the range as RSI for 18days is currently indicating 68.54, where as 50DMA is at 17515.48 and gold is trading above the same and getting support at 18495 and below could see a test of 18274 level, And resistance is now likely to be seen at 18876, a move above could see prices testing 19036.

Trading Ideas:

Gold trading range is 18279-18559.

Gold yesterday touched all time high as safety buying continues

Support for the gold is seen at 18640 and resistance is at 18800.

In spot gold looks to have a support at 1210$ and resistance at 1234$

BUY GOLD AUG @ 18570-620 SL 18520 TGT 18665-18712-18760.MCX