Last week, Gold prices opened the week at 16820 levels initially moved higher but found strong resistance at Rs 17,095 levels. Since then prices are not been able to sustain and fell sharply lower breaking the important support of Rs 16,640 of last week and made a low of 16,405 and finally ended the week with a huge loss of Rs 439 to close at Rs 16,451. Overall the trend is negative, said brokerage house Angel in its report today. Trading Levels: This week market is expected to find very good support at Rs 16,270-16,300 levels. And strong support is seen at Rs 16,100-16,120 levels. Trading below Rs 16,100 would lead to lower prices initially towards Rs 15,960 then 15,800 and then finally towards the major support at Rs 15,500. Resistance is observed in the range of Rs 16,580-16,600 and strong resistance is seen at Rs 16,780-16,800. Trading above Rs 16,800 would lead to higher prices initially towards Rs 16,950 and then finally towards the major resistance at Rs 17,100.

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