Gold prices traded strong on Tuesday as sentiments were again turned towards safe haven buying after the news of Greece`s rating downgrade played heavily on the euro prices. The current inversely proportional relation between euro prices and gold is proving to be supportive for the gold prices every time there is a hiccup in the recovery path of European financial debt crisis, said Basant Vaid, senior research analyst, Bonanza Commodity Brokers, while commenting on the oulook. Technically prices are near to the support range of Rs 18,360 ��"Rs 18,550 and are expected to consolidate for a while before heading towards the highs as the euro prices shed off more gains. Breach of Rs 18,350 level may prove to be short term bearish for the prices and may slide down towards Rs 18,000 levels, he adds.

Source