•Gold prices declined to 1314.37 as demand for safe- haven fades. It is currently trading around 1315.49.
•Market eyes US Fed monetary policy for further direction.
•Technically gold is facing minor resistance at 1320, 1324.50 and around 1327.46 ( above 61.8% retracement of 1334.26 and 1314.37) and any break above will take Gold till 1333 (10- DMA)1343, 1350, 1358.
•Gold’s near term support is around 1314.00 and break below will drag the commodity down till $1300.The Gold should break below 1250 for minor trend reversal.
It is good to sell on rallies around 1318-1320 with SL around 1328 & the TP at 1305, 1300.
•Market eyes US Fed monetary policy for further direction.
•Technically gold is facing minor resistance at 1320, 1324.50 and around 1327.46 ( above 61.8% retracement of 1334.26 and 1314.37) and any break above will take Gold till 1333 (10- DMA)1343, 1350, 1358.
•Gold’s near term support is around 1314.00 and break below will drag the commodity down till $1300.The Gold should break below 1250 for minor trend reversal.
It is good to sell on rallies around 1318-1320 with SL around 1328 & the TP at 1305, 1300.
