Gold advanced to a fresh all-time high as risk aversion resurfaced amid lingering worries over the euro zone debt situation and concerns over global economic growth. Gold opened at 18945 this morning. With no major economic releases, Gold took its queue from the equity markets and trading remained in a tight range with low volume. Gold hit an intra-day low of 18907, but rose on strong fund-buying later to trade at a high of 19198. Trading remained light throughout the day with Gold closing at 18991.Now support for the gold MCX is seen at 18866 and below could see a test of 18741. Resistance is now likely to be seen at 19157, a move above could see prices testing 19323.

Trading Ideas:

Gold trading range is 18741-19323.

hits record high as risk aversion resurfaces

Support for the gold is seen at 18930 and resistance is at 19060.

Spdr gold trust holdings rose by 12.17 tonnes to all time high of 1298.53 tonnes

GOLD CORRECTION IS DUE A BREAK BELOW 18900 WILL TEST 18750 LEVEL.MCX