Gold ended down but most of its losses recovered amid a weaker dollar as traders looked ahead to the results of stress tests on European banks due Friday. The price of bullion has been stuck in a relatively tight range in the past few weeks, having leveled off from its record high. Physical buyers have remained in the sidelines while persistent doubts about global economic outlook have kept a floor on gold prices. Now technically market is trading in the range as RSI for 18days is currently indicating 43.19, where as 50DMA is at 18578 and gold is trading below the same and getting support at 18224 and below could see a test of 18151 level, And resistance is now likely to be seen at 18367, a move above could see prices testing 18437.

Trading Ideas:

Gold trading range is 18151-18437.

Gold ended down but most of its losses recovered amid a weaker dollar

Gold looks to take support at 18230 and resistance at 18370.

Spdr gold trust holdings fell by 6.08 tonnes to 1302.05 tonnes