Gold crept closer to record highs rising on continued insecurity about the economic recovery as global equity markets struggle. Uncertainty in other markets recently has increased the demand for havens, and the near-record low yields on U.S. government debt has enhanced gold's appeal among investors seeking a refuge. Gold opened the day at 18948 and made a low of 18920, gold swiftly ascended as fund-buying triggered latent stops, lifting the metal to an eventual high of 19147. Dollar gains caused the commodity to close slightly lower at 19134. Now support for the gold MCX is seen at 18987 and below could see a test of 18840. Resistance is now likely to be seen at 19214, a move above could see prices testing 19294.

Trading Ideas:

Gold trading range is 18840-19294.

Gold crept ended higher on continued insecurity about the economic recovery

Gold on MCX looks to take support at 19060 and resistance at 19215 level

Spdr gold trust holdings rose by 3.95 tonnes to 1302.51 tonnes