Major support: $1445 (38.2% fib)
Gold has halted its 3-month of losing streak and shown a minor recovery of $20 from low of $1448. The US-China trade optimism is putting pressure on safe-haven assets like yen, gold. According to CFTC commitment of traders report for the week ended Nov 12, speculative long positions dropped -21402 contracts, while shorts fell -8640. The yellow metal jumped till $1474 and is currently trading around $1460.
US 10-year bond yield declined more than 8% in the previous week after forming a minor top around 1.97%. It is currently around 1.849%. The spread between 10 and 2-year yield narrowed to 21.6 bps from 278 bps.
On the flip side, near-term support stands at $1445 and violation below confirms bearish continuation a dip till $1430/$1413 possible.
The near-term resistance is at $1480 (support turned into resistance) and indicative break above targets $1500/$1525.
It is good to sell on rallies around $1465-66 with SL around $1475 for the TP of $1445/$1430.


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