Gold has shown a minor recovery of more than $10 for the day after hitting a low of $1486 level. The intraday trend is slightly weak as long as resistance $1502 holds. It is trading around $1497.
US 10 year bond yield is trading higher today after a minor dip till 1.621%. It hits a high of 1.657% and is currently around 1.653%.
Major intraday support to be watched -$1486 and any break below targets $1478/$1466.Minor weakness only below $1466. (10 W MA).
Resistance -The yellow metal is facing strong intraday resistance around $1502 and any break above targets $1515/$1525/$1540.
Additional Levels
$1464-69 (50- day MA and 55- day EMA)
$1445 (38.2% fib)
$1414
$1390 (38.2% fib)
