Gold ended down on MCX on profit booking and strong Rupee whereas in international market gold rose to its record highs on speculation about further simulative U.S. government action ahead of Tuesday's meeting of the Federal Reserve's rate-setting committee. Gold opened at 19117. As the dollar recovered, gold reached its intraday low of 19051. Strong gains in equities saw Gold reach its intraday high of 19145. The metal quietly traded the remainder of the day to close at 19102.Now support for the gold MCX is seen at 19054 and below could see a test of 19005. Resistance is now likely to be seen at 19148, a move above could see prices testing 19193.

Trading Ideas:

Gold trading range is 19005-19193.

Gold ended down on MCX on profit booking and strong Rupee

On MCX gold looks to take support at 19055 and resistance at 19150 level

Spdr gold trust holdings rose by 3.64 tonnes to 1304.47 tonnes