•XAU/USD prices recovered slightly from the 4- week low on account of escalated tensions in North Korea. It is currently trading around 1294.51
•Technically the pair is facing minor resistance around 1300 and if it able to break this level the next resistance comes at 1335 (near the 61.8% retracement of 1357.42 and 1288.10) & 1358.
•Near term support is around 1289 (50 DMA) and a break below will drag the commodity down till 1281.00 - 1275.00.
Due to geopolitical reason [North Korea prepares for another H-Bomb test] we don’t expect much down side in Gold for the near future.