FxWirePro: Gold trades weak on easing geo political tensions, good to sell on rallies

• Gold has shown a $14 decline yesterday on account of easing geo political tensions especially North Korea. The minor jump in US dollar index yesterday after hitting low of 91.48 slos reason for gold decline. US 10 year yield has shown a minor correction of almost 3.40% from high of 3.04% and is currently trading around 2.95%.
   
• The core PCE is the “Fed’s preferred measure of inflation” came at 2% yoy from 1.7% yoy Feb matched Fed expectations.
• The yellow metals near term resistance at $1327 and any break above will take the yellow metal till $1332 (50- day MA)/    $1338/$1344/$1348. The major bullishness only above $1365. Any break above $1365 will take the gold till $1374/$1380.
   
• On the lower side, near term support is around $1307 and any break below will drag the yellow metal down till $1308/$1303 (200- day EMA).

It is good to sell on rallies around $1313-14 with SL around $1320 for the TP of $1302/$1300.