Remain on the sidelines.

Gold spent most of the day near steady as market participants were positioning themselves for the earnings and economic reports later in the week including the Producer Price Index, retail sales, jobless claims and housing starts. Nevertheless the yellow metal rallied into the close on short covering pushed higher by a rebound in the equity markets and a slide in the US currency. As a result gold moved $6.65 up to settle at $918.80/oz after briefly crossing above the 9 day moving average.
The short term trend is bearish, the medium term trend is sideways while the long term trend is bullish.

Support: $907.45 (yesterday's low)
Resistance: $932.10 (high of 07/07/09)

Support: $895.30 (low of 06/05/09)
Resistance: $926.40 (14 day moving average)

Support: $889.45 (low of 23/04/09)
Resistance: $923.32 (yesterday's high)

9 day moving average - $920.42
14 day moving average - $926.40
40 day moving average - $941.84