• Gold has once again recovered after showing a minor decline till $1275. The yellow metal jumped till $1283.50 on account of weak US dollar. It is currently trading around $1282.60.
   
• US jobless claims rose to 249k in the week ended Nov 11, compared to forecast of 234k. Philly fed manufacturing index dropped to 18.9 below expectations of 24.1. The house would vote on tax plan today.
   
• US Dollar index has recovered till 94 and started to decline from that level. The index is facing strong support at 93.40 (50- day MA) and any break below targets 93/92.59/92. It is currently trading around 93.60. The pair is facing intraday resistance around 94 and any break above will take the index to next level till 94.25/95/95.15.
   
• Technically gold is facing near term resistance around $1291 (Oct 19th 2017 high and 61.8% fibo) and any break above will take the pair to next level till $1300/$1309. Minor resistance is around $1282.50 (55- day EMA).
   
• Gold’s near term support is around $1262 (61.8% retracement of $1204 and $1357.90) and break below will drag the commodity down till $1250.The yellow metal should close below $1250 for major trend reversal. The minor support is around $1277/$1270. 
  
  It is good to buy on dips around $1278--$1280 with SL around $1274 for the TP of $1290/$1300.