•Yesterday Gold declined to 1304.60 from the Friday's close of 1319.63.
•Gold is currently trading around 1308.60 and is testing the rising trend line.
•U.S 10 year yield hits one – month high at 2.22% on increasing expectations of unwinding of its massive $4.5 trillion portfolio.
•Gold is facing minor resistance at 1316.25 - 1320.00 zone and any break above will take the price to 1334.50.
•Gold’s near term support is around 1301.00 (200 SMA) and break below will drag the price down to 1295.50.
It is good to sell on rallies around 1320.00 with SL around 1325.00 and TP at 1305 - 1300.