Gold ended a hair lower in mixed trade, retreating from the previous session's sharp gains as the market took a breather after rising for five consecutive days.  Profit-taking seen after gold has gained for five straight sessions in the face of a strong dollar. Now technically market is trading in the range as RSI for 18days is currently indicating 58.32, where as 50DMA is at 16676 and gold is trading above the same and getting support at 16703 and below could see a test of 16640 level, And resistance is now likely to be seen at 16817, a move above could see prices testing 16868.

Gold trading range is 16640-16868.

Gold ended down pausing its rally on some profit booking

Support for the gold is at 16720 on MCX and in spot support is at 1138$.

Spdr gold trust holdings rose by 9.69 tonnes to 1140.43 tonnes.

BUY GOLD JUN @ 16700-730 SL 16660 TGT 16756-16785-16815.MCX