• Major resistance - $1188
   
• Major support - $1152 (200- H MA)
   
• The yellow metal has made a high of $1185 and declined from that level. It is currently trading around $1176.50.
   
• US 10- year bond yield shown a slight slip till 2.35% from 2.45% after Fed minutes meeting. The yield is trading well below 2.45% (200- HMA) and a slight decline till 2.30% is possible .It is currently trading around 2.37%.
   
• Gold major resistance is around $1188 (Dec 5th high) and any break above targets $1200 in the short term.
   
• On the lower side, immediate support is around $1170 (55- H EMA) and any indicative break below targets $1163 (100- H EMA)/$1152 (200- HMA).
  
  It is good to buy on dips around $1175 with SL around $1165 for the TP of $1188/$1200.