Gold settled flat on Saturday after rising Friday as worries about Greece's debt crisis triggered buying by investors looking for a safe place to park assets, while the softer dollar also helped underpin sentiment. The International Monetary Fund could withhold the next slice of aid to Greece due next month, the head of euro zone finance ministers said on Thursday, spooking markets with the possibility of a default. Gold is closing the week at 22520. This is the second consecutive up week off 22568. It is interesting to note that both of these up sessions have closed at their highs. Gold's move above 61.8% Fibo level at 22800 is a positive development as it puts the 23000 to record high back in sight. Now technically market is trading in the range as RSI for 18days is currently indicating 62.17, where as 50DMA is at 21865.88 and gold is trading above the same and getting support at 22504 and below could see a test of 22487 level, And resistance is now likely to be seen at 22538, a move above could see prices testing 22555.

Trading Ideas:

Gold trading range is 22487-22555.

Gold settled flat on Saturday after rising Friday as worries about Greece's debt crisis triggered buying

Gold looks to take support at 22402 and resistance at 22584.

Spdr gold trust holdings fell by 0.91 tonnes to 1213.17 tonnes