• Gold continues backslide after price notched 10 –month low on Monday. The yellow showed a mild jump till $1175 and once again started to fall from that level. The yellow metal is trading weak on account of strong U.S dollar and Fed rate hike fears.
   
• Investors were also looking for ECB monetary policy on Thursday on its quantitative easing programme.
   
• Technically Gold should break above pschycological resistance $1200 for further bullishness .Any close above 10- day MA $1185 will also take the yellow metal slightly till $1200.
   
• On the lower side any close below $1160 will take the bullion further down till $1147/$1130.
  
  It is good to sell on rallies around $1172-$1174 with SL around $1182 for the TP of $1160/$1148