Gold rose amid unease about Ireland's bailout request, but a stronger dollar capped the gains. Uncertainty about the Irish government's request for financial aid from the European Union, as well as concerns about other cash-strapped European nations, supported gold as a perceived safer investment. Bullion initially fell as the rise in the dollar against the euro undermined gold buying, but the metal rebounded on signs of uncertainty as to whether the Irish government can push through an austerity budget crucial to receiving assistance. Now technically market is trading in the range as RSI for 18days is currently indicating 57.01, where as 50DMA is at 19719 and gold is trading above the same and getting support at 20051 and below could see a test of 19963 level, And resistance is now likely to be seen at 20192, a move above could see prices testing 20245.

Trading Ideas:

Gold trading range is 19963-20245.

Gold yesterday ended positive on safe haven buying

Gold looks to take support at 20050 and resistance at 20212.

Spdr gold trust holding fell by 4.26 tonnes to 1285.08 tonnes