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Major trend line resistance- $1479
Gold is trading higher for the past 1- week and jumped more than $20 and markets eye US-China trade developments for further direction. But volumes are very thin ahead of the Christmas and New year. It hits an intraday high of $1485 and is currently trading around $1483.94.
Markets eye US durable goods order data to be released today for further direction. US 10-year yield was one of the best performings and jumped more than 15% to 1.952%.
On the flip side, near-term support stands at $1456, violation beneath will drag the yellow metal down till $1450/$1445. Bearish continuation only underneath $1445.
The near-term resistance is at $1485, any indicative break beyond targets $1500/$1525.
It is good to buy on dips around $1468-69 with SL around $1460 for the TP of $1497.
