• Gold steadied today after huge fall in the previous session due to French election result.  The yellow metal is currently trading around $1273.27 0.187% lower.
   
• Gold price is expected to decline further as the threat of France having referendum has diminished as Macron is well ahead of Le Pen in the polls.
   
• U.S 10 year bond yield shown a huge jump from the low of 2.18% and hits two week high around 2.31% on account of French first round election result.
• Gold is facing major near term support at $1265 (21- EMA) and any violation below 21- day EMA will drag the commodity down till $1255 (200- day MA)/ $1245 (50% retracement of $1195 and 1295)/$1238 (100- day EMA).
   
• On the higher side, near term resistance is around $1284 (61.8% retracement of $1295 and $1265) and any break above targets $1295/$1300/$1313 (161.8% retracement of $1295 and $1265).
  
  It is good to sell on rallies around $1275-$1277 with SL around $1284 for the TP of $1256.