U.S stocks were lifted by surge in Apple shares and global equities also strengthened. Market waiting for Fed two day policy meeting and Non-Farm payroll jobs data which is to be released on Friday for further direction.
U.S 10 year bond yield jumped slightly after hitting low of 2.28% on May 1st and further movement can be seen only after fed meeting.
Gold is facing strong support around 200- day MA and any beak below will drag the commodity down till $1245 ( of $1195 and 1295)/$1241 (100- day ).
On the higher side, near term resistance is around $1265 (21- day ) and any break above targets $1280 ( of $1295.50 and $1254)/ $1295 ( Apr 17th high)/$1300/$1318 (161.8% retracement of $1295 and $1265).
It is good to sell on rallies around $1260-$1262 with SL around $1272 for the TP of $1245/$1241.