Gold climbed to record highs as the dollar fell versus the euro and as recent volatility in the currency markets boosted demand for the metal as a safe store of value. An announcement by the Bank of Japan that it would create a pool of funds to buy assets to tackle strength in the yen also helped gold. Demand for physical gold retreated as prices rose again, however. Buying in main gold consumer India was muted as the weaker rupee added to pressure on local buyers. Now support for the gold MCX is seen at 19328 and below could see a test of 19142. Resistance is now likely to be seen at 19618, a move above could see prices testing 19722.

Trading Ideas:

Gold trading range is 19142-19722.

Gold climbed to record highs as the dollar fell versus the euro

Gold looks to take support at 19328 and resistance at 19618.

In spot gold looks to take support at 1328$ and resistance at 1352$