FxWirePro- Gold Daily outlook

Ichimoku Analysis (4-Hour chart)

Tenken-Sen- $1926.86

Kijun-Sen- $1919.20

Gold hits a fresh 8-month high as geopolitical tension intensifies. Russian President Putin has announced military operations in Donbas and explosions heard in Ukraine cities of Odesa, Kharkiv.  The increase in demand for safe-haven assets is pushing the yellow metal higher.  US 10-year yield lost more than 7% from yesterday's high of 2%.  Gold hits a high of $1949 and is currently trading around $1939.52.

Markets eye US prelim GDP and Jobless claims for further direction.

Factors to watch for gold price action-

 Global stock market- Bearish (positive for gold)

US dollar index –Bullish (negative for gold)

US10-year bond yield- Bearish (positive for gold)

Technical:

The near–term support is around $1920, violation below targets $1900/$1889/$1880. Significant reversal only below $1750.The yellow metal faces strong resistance of $1950, any violation above will take to the next level $1960/$1980.

It is good to buy on dips for $1900 with SL around $1880 for TP of $1960.