Major resistance - $1180
Major support - $1146 (200- H MA)
The yellow metal has broken major 161.8% fibo level and jumped till $1177.49 at the time of writing. It is currently trading around $1177.21.
US 10- year bond yield shown a slight slip till 2.43% from 2.45% after Fed minutes meeting. Fed minutes meeting shows the uncertainty of central bank pace of interest rate hike .Federal officials said that they might speed up the future rate hike if unemployment rate fall faster than expected .So US 10 –year has traded slightly weak. It is currently trading around 2.45%. On the lower side, major intraday support stands at 2.43% (200- HMA) and any violation below targets 2.30% (38.2% fibo level).
Gold minor resistance is around $1180 and any break above targets $1188 (Dec 5th high)/$1200 in the short term.
On the lower side, immediate support is around $1166 (hourly Kijun-Sen) and any indicative break below targets $1157/$1146 (200- HMA).
It is good to buy on dips around $1175 with SL around $1165 for the TP of $1188/$1200.
Major support - $1146 (200- H MA)
The yellow metal has broken major 161.8% fibo level and jumped till $1177.49 at the time of writing. It is currently trading around $1177.21.
US 10- year bond yield shown a slight slip till 2.43% from 2.45% after Fed minutes meeting. Fed minutes meeting shows the uncertainty of central bank pace of interest rate hike .Federal officials said that they might speed up the future rate hike if unemployment rate fall faster than expected .So US 10 –year has traded slightly weak. It is currently trading around 2.45%. On the lower side, major intraday support stands at 2.43% (200- HMA) and any violation below targets 2.30% (38.2% fibo level).
Gold minor resistance is around $1180 and any break above targets $1188 (Dec 5th high)/$1200 in the short term.
On the lower side, immediate support is around $1166 (hourly Kijun-Sen) and any indicative break below targets $1157/$1146 (200- HMA).
It is good to buy on dips around $1175 with SL around $1165 for the TP of $1188/$1200.
