The counter after firm opening yesterday hit a high and low absolutely near the levels indicated in these columns yesterday. The gold made a high of 17107 and a low of 16892 in intra day trades yesterday. The counter finally closed the session with positive bias. The counter appears attractive on charts and may open higher today. The counter will gain strength once it trades and remains above 17062.75 whereby it may move up to 17109/17150. Strong support for the gold exists at 16971.25 which if breached decisively then it may slide to 16935/16891.

via Forex & Commodity Update.