• Gold prices added to recent gains and hits fresh five month high at $1295 at the time of writing on rising geopolitical tension over North Korea.
   
• North Korea attempted to launch a missile on Sunday from Sinpo, a city on North Korea’s eastern coast  but the weapon blew up almost immediately after takeoff.
   
•  U.S dollar index jumped slightly from the low of 100.01 and its upside capped by 55- day EMA. Any break  above 100.67 (55- day EMA) will take the index till 101./101.35. Minor weakness can be seen only below 100 level.
   
• On the higher side, any break above $1300 will take the yellow metal till $1306 (161.8% retracement of $1263.87 and $1195.12)/$1332.
   
• The major near term support is around $1271 (5- day MA) and any break below will drag the yellow metal down till $1257 (200- day MA)/ $1244 (50% retracement of $1195 and $1295)/$1241 (daily Kijun-Sen).
  
  It is good to sell on rallies around $1295-$1298 with SL around $1306 for the TP of $1272/$1260.