Gold futures ended lower in the domestic market on Tuesday as investors favoured equities over safe haven assets after Greece and its creditors reached a deal on Monday. German Chancellor Angela Merkel, French President Franceois Hollande and Greek Prime minister Alexis Tsipras agreed a cash-for-reforms deal worth up to 86 billion euros over the next three years. The deal, unanimously backed by other eurozone leaders, needs an extensive over - all of the country’s tax and pension regime but has to be signed off by the Greek parliament as well as other countries. However, losses were limited after data showed that retail sales in the US fell unforeseen in June, while core sales also drop approximate, water desire over the strength of the economy and dimming prospects for higher interest rates. Investors await the start of Federal Reserve chair Janet Yellen's two-day testimony before Congress on Wednesday for further indications on the timing of a highly-anticipated interest rate hike. At the MCX, Gold futures for August 2015 contract ended at Rs 25,927 per 10 gram, down by 0.37 per cent after starting at Rs 26,025, opposed the previous closing price of Rs 26,024. It touched the intra-day low of Rs 25,908 till the closing.

Gold prices ended the U.S. day session modestly lower Tuesday. Buying interest
In precious metals was limited due to the better investor/trader risk appetite that has been in the market place the past few days

Support at 25800 and Resistance at 26050
Two consecutive closes below 25800 will see free fall in Gold till 25500---25200 and then to 24800 mark else it could test its resistance level of 26050 again
Decisive break and sustain above 26050 will see further upside rally till 26250---26400 mark in days to come
Further upside rally seen only weekly close above 26400 mark
Traders can trade with levels only

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