Gold look to trade in the range today can some firmness can be seen as supported by renewed worries about the euro zone's financial stability, but a stronger dollar weighed on sentiment, while holdings in the top exchange-traded fund continued to decline. US employers hired fewer workers than expected in December and a surprisingly large number of people gave up searching for work, tempering the positive news of a big drop in the unemployment rate. Now technically market is trading in the range as RSI for 18days is currently indicating 43.49, where as 50DMA is at 20521.78 and gold is trading below the same and getting support at 20347 and below could see a test of 20318 level, And resistance is now likely to be seen at 20412, a move above could see prices testing 20448.

Trading Ideas:

Gold trading range is 20318-20448.

Gold looks firm on renewed worries about the euro zone's financial stability.

Holdings in SPDR Gold Trust fell to a 7-month low of 1,271.164 tonnes by Jan 7.

Dollar index rose to its highest since Dec 1, as the euro plumbed 4month lows vs the greenback.

BUY GOLD FEB @ 20320-340 SL 20280 TGT 20368-20398-20425.MCX

Gold / Silver ratio is at 47.41. Yesterday Gold FIX $ has closed higher at : 1367