 - EconoTimes)
Gold pared some of its gains after US ISM PMI data. It hit a low of $2473 a the time of writing and is currently trading around $2482.93.
US ISM manufacturing PMI rose to 47.20 in Aug from 46.80 the previous month, below the forecast of 47.50.
The yellow metal is trading below 34 and 55 H EMA in the 4-hour chart ($2502.47 and $2505). The weakness can be seen only if it closes below $2470. A break below targets $2450 is possible.
US dollar index- It gained momentum after positive PMI data. Any close above 102 confirms minor bullishness.
The yellow metal faces minor resistance around $2506, breach above will take it to the next level of $2515/$2525/$2530/$2550.
It is good to buy on dips around $2470 with SL around $2450 for a TP of $2530.
