Gold ended positive as disappointing economic data slightly heightened concerns about the global recovery and boosted demand for a refuge investment, building on support from news that China is moving to expand its gold market. Gold opened the day at 17907, before lethargic home sales, factory orders and consumer spending raised qualms about the economic recovery, assigning gold to a low of 17888 on dollar verve. The metal was later hoisted to a high of 18008 amid a withdrawal by the greenback, before reconciling the day at 17951, as penurious funds captured profits. Now support for the gold MCX is seen at 17890 and below could see a test of 17829. Resistance is now likely to be seen at 18010, a move above could see prices testing 18069.

Trading Ideas:

Gold trading range is 17829-18069.

Gold ended positive as disappointing economic data heightened concerns about global recovery

Gold looks to take support at 17890 and resistance at 18010.

China's central bank will allow more domestic banks to export and import gold