Gold ended a session a bit on the downside ahead of the Federal Reserve's interest rate and policy announcement. Participants have been buying gold in anticipation of possible further quantitative easing from the Federal Open Market Committee, which would likely be bullish for gold by pressuring the U. S. dollar, keeping interest rates low and adding to liquidity that could be used for gold purchases. Now support for the gold MCX is seen at 18119 and below could see a test of 18072. Resistance is now likely to be seen at 18236, a move above could see prices testing 18306.

Trading Ideas:

Gold trading range is 18072-18306.

Gold ended a session a bit on the downside ahead of the Federal Reserve's meet

Gold looks to take support at 18120 and resistance at 18235.

In spot gold is having resistance at 1212$ and support at 1192$