Gold has recovered sharply more than $40 on renewed trade escalation between US and China.US ISM manufacturing data came in at 51.2 from 51.7 in June compared to a forecast of 51.9 lowest reading since Aug 2016. US dollar index has declined more than 50 pips after hitting a fresh 27 month high around 98.93 yesterday. The yellow metal hits high of $1449 and is currently trading around $1434.39.
US 10 year bond yield slumped nearly 18 basis points on hopes of more rate cut and weak US ISM manufacturing data. It hits a low of 1.876% and is currently trading at around 1.892%.
On the flip side, near term support is around $1430 and any violation below will drag the yellow metal down till $1320-22.
The near term major resistance is around $1450 and any break above will take the gold till $1465/$1500.
It is good to buy on dips around $1410-12 with SL around $1400 for the TP of $1450.


FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD downtrend extends, eyes 1.8900 evel
FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD slips amid wavering risk sentiment
FxWirePro: USD/CNY falls to three-year high, scope for further downside
NZD/JPY Rockets as Kiwi Dollar Resilience Defies the Oil Shock
FxWirePro: EUR/AUD falls below 1.6600 level, plunge to test a key fibo grows
NZDJPY Bearish Breakdown: Why Selling the Rallies is the Strategic Play
FxWirePro: USD/ZAR continues to recovers , upside pressure builds
Ethereum Reclaims Higher Ground: Ether Bulls Target $2,700 as Middle East Tensions Thaw
Ethereum Braces for Volatility: Technicals Turn Bearish as Geopolitical Tensions Loom
FxWirePro: GBP/USD stuck in range but maintains bearish bias
FxWirePro: USD/JPY edges up as yen dips after soft household spending data
Bitcoin Breaks the $70,000 Barrier: Bulls Target the $80,000 Horizon as Geopolitical Relief Ignites Crypto Markets
Aussie Bulls Charge: AUD/JPY Rallies as Geopolitical Clouds Part
FxWirePro: GBP/NZD reverses course, bias back to downside
FxWirePro- Major European Indices 



