Gold recovered till $1216 almost $20 from low of $1196 on account slight weakness in USD and sell-off in equity market.
The major three factors that drive gold prices
US dollar Index: weak for intraday. DXY has declined nearly 100 pips after forming a temporary to pat 97.69. It is currently trading around 96.86.The near term resistance is around 97.70 and any break above targets 98. ( neutral for gold).
USD/JPY: Weak . The pair is trading slightly weak for 3rd consecutive days. USDJPY has jumped more than 350 pips from low of 111.37 and hits 5-week high at 114.22. It is currently trading around 113.52. The near term resistance is around 114.25 and any break above targets 114.55/115. Slightly positive for gold.
US 10 year yield : US 10 year yield has lost more than 4.5% from high of 3.25%.Any further bullishness only above 3.25%. It is currently trading around 3.14%. Slightly positive for Gold.
US 2 year yield: It is trading lower after hitting hitting fresh multi-year high at 2.98% and lost more than 5%.The spread between US 10 year and 2 year has decreased from 30bpbs to 26bpbs.
Gold technical
Major support $1183
Major resistance - $1240
The yellow metal shown a good bounce of $20 from the low . On the higher side, major resistance is around $1217 (55 day EMA) and any break above $1217 will take the commodity till $1227/$1236 .It should break above $1243 (Oct 26th 2018 high) for bullish continuation.
The near term support is around $1190 and any violation below will drag the commodity down till $1178/$1160..
It is good to buy on dips around $1206-07 with SL around $1198 for the TP of $1227.


US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
AUDJPY Bears Tighten Grip: Sell Rallies at 110.65-67 Targeting 107.75 as All EMAs Stay Red
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro: USD/CNY downtrend loses steam, remains on bearish path
FxWirePro- Woodies pivot (Major)
DAX & CAC40 Score Perfect 100 Trend, FTSE100 Lags at 85 – Key Levels to Watch on the Perfect Scorers
FxWirePro- Major Pair levels and bias summary
EUR/JPY Under Pressure: Broad Yen Buying Keeps Bears in Control Below 183.00
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
NZDJPY Retreats on Yen Strength – Bearish Setup Targets 90 After Hitting 92.75 Low
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
Forex Scorecard: EUR/USD, GBP/USD, and NZD/USD Stand Out as Prime Bullish Opportunities
FxWirePro: USD/CNY dips to hit three year low,scope for further downside
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support 



