US 10 year declining after hitting high of 2.50% on Dec 21st 2017 and is currently trading at 2.40%. The decline in bond yields also supporting gold price.
On the higher side, gold is facing strong resistance at $1310 ( ) and any break above will take the yellow metal till $1320/$1331. The yellow metal has closed above $1300 for two consecutive days and this confirms continuation.
The near term support is at $1294 (7- day MA) and any violation below will drag the metal to next level till $1287 (100- day MA) /$1275 (50- day MA)/$1272 (daily Kijun-Sen). Minor weakness below $1260. Any break below $1260 will drag the gold till $1243/$1236 (Dec 12th 2017 low).
It is good to buy on dips around $1298 with SL around $1287 for the TP of $1313/$1320.