Major resistance - $1300
Gold has shown a minor jump of nearly $15 after weaker than expected US Non farm payroll data. US economy has added 20000 jobs in Feb compared to forecast of 180k and unemployment rate declined to 3.8%. The yellow metal hits high of $1300.61 and is currently trading around 1298.61.
On the higher side, yellow metal is facing near term resistance around $1300 and break above will take the gold to next level till $1312.40 (20- day MA)/$1316/$1321.50.
The near term support is around $1280 and any violation below will drag the commodity down till $1271/$1265.
It is good to buy on dips around $1292-93 with SL around $1286 for the TP of $1312/$1320.
