Gold took support near the trend line and showed a minor recovery. It hit a low of $2485 at the time of writing and is currently trading around $2500.
The yellow metal is trading above 34 and below 55 H EMA in the hourly chart ($2502 and $2500.64). The weakness can be seen only if it closes below $2470. A break below targets $2450 is possible.
US dollar index- It has shown a minor profit booking after more than 100 pips jump. Any close above 102 confirms minor bullishness.
The yellow metal faces minor resistance around $2505, a breach above will take it to the next level of $2512/$2520$2530.
It is good to buy on dips around $2485-86 with SL around $2470 for a TP of $2520.
