Major resistance - $1171 (161.8% retracement of $1163 and $1149)
Major support - $1140 (10- day MA)
The yellow metal has taken support near channel bottom and recovered sharply from that level. It is currently trading around $1160.55.
US 10- year bond yield shown a slight jump till 2.52% after declining till 2.43% .But not able to hold above 2.50% level. It is currently trading around 2.45%. On the lower side, major intraday support stands at 2.43% (200- HMA) and any violation below targets 2.30% (38.2% fibo level).
Gold 0.11% minor resistance is around $1165 and any break above targets $1172/$1180/$1188 ( Dec 1.16% 5th high) in the short term.
On the lower side, immediate support is around $1146 and any indicative break below targets $1130/$1122.
It is good to buy on dips around $1158-$1160 with SL around $1146 for the TP of $1171/$1180.
Major support - $1140 (10- day MA)
The yellow metal has taken support near channel bottom and recovered sharply from that level. It is currently trading around $1160.55.
US 10- year bond yield shown a slight jump till 2.52% after declining till 2.43% .But not able to hold above 2.50% level. It is currently trading around 2.45%. On the lower side, major intraday support stands at 2.43% (200- HMA) and any violation below targets 2.30% (38.2% fibo level).
Gold 0.11% minor resistance is around $1165 and any break above targets $1172/$1180/$1188 ( Dec 1.16% 5th high) in the short term.
On the lower side, immediate support is around $1146 and any indicative break below targets $1130/$1122.
It is good to buy on dips around $1158-$1160 with SL around $1146 for the TP of $1171/$1180.
