Gold eased after rising to its strongest in a week in the previous session as strong demand for Portugal's bond sale eased concern over the debt crisis in Europe. Gold opened at 20449 in early session saw the metal reach an intraday low of 20315 in thin trading. Range bound for most of the day, gold saw renewed buying interest early afternoon as the dollar softened eventually ending the day on its intraday high of 20487.now technically market is trading in the range as RSI for 18days is currently indicating 45.26, where as 50DMA is at 20530.32 and gold is trading below the same and getting support at 20314 and below could see a test of 20229 level, And resistance is now likely to be seen at 20486, a move above could see prices testing 20573.

Trading Ideas:

Gold trading range is 20229-20573.

Gold eased as strong demand for Portugal's bond sale eased concern over the debt crisis in Europe.

Gold imports by India likely reached a record last year, driven by investment demand - WGC

Gold holdings in the ETF of Zurich Cantonal Bank edged 0.1% lower in the week to Jan. 10.

SELL GOLD FEB @ 20425 SL 20475 TGT 20390-20352-20315.MCX

Gold / Silver ratio is at 46.78. Yesterday Gold FIX $ has closed lower at : 1378.75