• Major resistance - $1260 (200- day MA).
   
• Gold gained almost 1.5% yesterday as Trump trade fades. The yellow jumped till $1261 and closed at $1253.95.It is currently trading around $1253.85.
   
• DXY rebounds from the low of 98.86 made yesterday. The index should break above 99.65 for intra day bullishness. Minor trend reversal only above 100.
   
• US 01 year bond yields hits almost one month low on growing doubts over Trump policy to bolster the economy. The yield breaks previous week low at 2.38% and declined till 2.35%. Short term support is around 2.31%.
   
• Technically, near term resistance is at $1260 (200- day MA) and any close above will take the yellow metal till $1273 ($113% retracement of $1260 and $1194)/$1280.
   
• On the lower side, $1245 (23.6% retracement of $1261.01 and $1195) will be acting as major support and any break below will drag the gold down till $1231.95 (21- day EMA)/$1224 (100- day EMA).
  
  It is good to buy on dips around $1253 with SL around $1243 for the TP of $1272.