Gold is consolidating between $1554 and $1455 for the past 1- week. The yellow metal suffered a severe loss from a high of $1703.82 on account of a strong US dollar. DXY surged sharply, hits 3-year high on safe-haven demand due to coronavirus. The number of people infected due to coronavirus increased to 335000 and the death toll rose to 14632. The spread of coronavirus is expected to support gold at lower levels.
US 10-year yield has lost more than 35% from minor top 1.276% and spread between US 10-year and 2-year has narrowed to 50 bps from 70 bps.
Technically, near term support is around $1450 and any violation below will drag the gold down till $1430/$1400.
On the higher side, immediate resistance is around $1520 and indicative break above will take the gold till $1535/$1555.
It is good to sell on rallies around $1515-20 with SL around $1505 for the TP of $1430.


FxWirePro: EUR/AUD gaining momentum for a move towards 1.6800 level
Euro Retreats as Geopolitical Tensions Surge: EURUSD Eyes 1.1400 Floor Amid Safe-Haven Demand
FxWirePro: GBP/NZD remains buoyant, looks to extend gains
NZDJPY Bears Take Control: New Zealand Dollar Retreats as 92 Resistance Holds Firm
Aussie Retreats Against the Yen: AUDJPY Bears Target 108 as 110 Resistance Holds Firm
FxWirePro: EUR/AUD eases slightly but trend is still bullish
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD outlook weaker on renewed downside pressure
EUR/JPY Bulls Charge: Eyeing 186.00 as Euro Strength Intensifies
FxWirePro: AUD/USD downside pressure builds, key support level in focus
FxWirePro: USD/JPY firms as Trump's address on Gulf war spark fresh concerns
Pound Under Pressure as Yen Stabilizes: GBPJPY Bears Target 208 as Key EMAs Hold Resistance
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/ NZD consolidating around 2.0180 room for further gains
FxWirePro: USD/ZAR fibo rejection triggers sizeable pullback
FxWirePro: USD/ZAR sustains gains as uptrend remains strong 



