• Gold is consolidating after a jump of more than $20 from its low of $1237.82.Markets eyes US non farm roll which is major data to be released for further direction.The increase in geo political tensions has raised demand for safe haven assets such as gold. The fed mentioned in minutes meeting that jobs growth is strong ,unemployment rate had declined and core ,headline inflation reached fed’s target of 2%. The members in fed has also discussed about fattening of yield and slope of yield curve to be monitored. This shows that fed to hike rates in gradual pace in the coming months. Overall gold has lost more than $70 dollar from the high of $1309.20 made on Jun 14th 2018 on account of surging US dollar against all majors. US dollar has showed a minor jump from low of 94.18. The index should break above 95.53 for further bullishness.The policy divergence between ECB and Fed is supporting prices of US dollar index.
   
• The pair is facing strong trend support at $1239 (trend line joining $1046 and $1122) and any break below will take the yellow metal till $1234 (200- W MA) and any weekly close confirms further weakness.
   
• The near term resistance is around $1260 and any break above will take the yellow metal till $1270/$1275 (23.6% fib).
  
  It is good to buy on dips around $1252-54 with SL around $1245 for the TP of $1270/$1275.