Gold, in COMEX, managed to break $1,800 on the upside, on Tuesday, but lost altitude as other asset classes saw sharp reversal. Metals, as well as energy class, saw sharp decline which sent gold and silver running for cover. We saw USD pushing decent gains. However, gold has, once again, managed to trade near $1,800 and we believe, slowly and steadily, gold will try to climb back up. Currently, gold bulls and bears are on level playing field with gold crashing below $1,780 will give bears upper hand while prices above $1,820 will give bulls upper hand. We recommend intraday any dip to go long with expected target of 48,000. Previous resistance of Rs 47,300 has now become support and gold should hold its head above water as long as it is trading above its support of Rs 47,300.