Gold ended lower as the risk aversion that drove prices to record highs last month abated, with caution during the US Independence Day holiday also keeping a lid on gains. A return of some physical demand after last week's price correction underpinned the metal, however. Now technically market is trading in the range as RSI for 18days is currently indicating 48.1, where as 50DMA is at 18518 and gold is trading below the same and getting support at 18467 and below could see a test of 18425 level, And resistance is now likely to be seen at 18562, a move above could see prices testing 18615.

Trading Ideas:

Gold trading range is 18425-18615.

Gold ended lower as risk aversion that drove prices to record highs last month abated

Gold looks to take support at 18440 and resistance at 18560.

China's gold output rose nearly 6% year on year to 127.34 tons in Jan-May period

SELL GOLD AUG @ 18560-580 SL 18624 TGT 18522-18485-18444.MCX