Gold is trading in a narrow range after hitting a 6-year high of $1555. The yellow metal was trading higher in the previous week and jumped more than $50 on US-China trade war escalation and declining US bond yield. The yellow metal hits low of $1525 and shown a minor jump from that level. It is currently trading around $1542.77. Markets eye US Prelim GDP q/q for further direction.
US 10 year bond yield lost more than 13% from a previous week high of 1.66% and hits 3-year low around 1.44%. It is currently trading at 1.478%. The yield curve between US 10 year and 2-year got inverted by 5 bps point highest since 2007.
On the lower side, near term support is around $1525 (Aug 26th, 2019) and any violation below will drag the yellow metal down till $1500/ $1486 (21- day MA)/$1460.The major weakness can be seen only below $1437.
The near term resistance is around $1565 and the indicative break above targets $1580/$1600.
It is good to buy on dips around $1520-25 with SL around $1500 for the TP of $1560.


FxWirePro- Major Pair levels and bias summary
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target
FxWirePro: USD/CNY dips to hit three year low,scope for further downside
FxWirePro- Woodies pivot (Major)
Nikkei Surges Past 65,000 on Suspected Yen Weakness: Tech Giants Like Advantest and NEC Lead Explosive Gains
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Crypto levels and bias summary
AUD/JPY Slips Below 112 as BOJ Intervention Sparks Bearish Momentum: Sell the Rallies
FxWirePro: GBP/AUD drifts lower after BOE rate decision
AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
FxWirePro: NZD/USD consolidates overnight gains, but loses momentum
Major European Indices Score Extremely Bullish: DAX Eyes 26000, CAC Targets 8600, FTSE100 at 11000 – Key Levels to Watch
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support 



