Major intraday support - $1480
Gold hits fresh multiyear high due to the US-China trade war uncertainty and declining yield. US 10 year yield has declined more than 20% in the past 10 days, the steepest drop since Jul-Aug 2011. The yellow metal hits high of $1510 and is currently trading around $1500.91.
On the higher side, near term resistance is around $1520 and any violation above will take the yellow metal till $1540/$1585.
The near term major support is around $1480 and any break below will drag the gold till $1462/$1455/$1440.
It is good to buy on dips around $1440 with SL around $1430 for the TP of $1520.
