Gold ended lower as signs of progress in talks to avert a U.S. default sapped safe-haven buying. Bullion is still up nearly 6 percent this month due to uncertainty over whether politicians will reach a deal to raise the $14.3 trillion U.S. borrowing limit before the deadline. A European debt crisis engulfing Greece that may spread to Italy and Spain also underpinned the metal. Europe's debt woes largely unresolved and a U.S. deal to raise the debt ceiling facing an August 2 deadline, dealers cast gold's pull-back as a healthy correction in a market that had become technically overextended after its best two-week rally in 2-1/2 years. Now technically market is trading in the range as RSI for 18days is currently indicating 63.06, where as 50DMA is at 22497.14 and gold is trading above the same and getting support at 22887 and below could see a test of 22733 level, And resistance is now likely to be seen at 23257, a move above could see prices testing 23473.

Trading Ideas:

Gold trading range is 22733-23473.

Gold ended lower as signs of progress in talks to avert a U.S. default sapped safe-haven buying

Gold looks to take support at 22887 and resistance at 23257.

Spdr gold trust holdings fell by 3.33 tonnes to 1246.01 tonnes