Gold trades higher on us-mexico trade war...!!
US Dollar Index -Trend positive.US Dollar index is trading higher for past 4 days and jumped more than 70 pips. Any break above 98.40 will take the index till 98.75/99.
US 10 year yield- Overall trend negative. It has declined once again and hits lowest level in 20 months at 2.17%. It is currently trading around 2.177%.
S&P500: Short term trend - weak .It is trading slightly below 200- day MA and dip till 2745 is possible.
Gold recovered nearly $20 on declining US 10 year yield and weak global stock market.It is currently trading around $1292.60.
On the higher side, near term resistance is around $1297 and any violation above will take the yellow metal to next level till $1300/$1303. It should break above $1304 for further direction.
The near term support is around $1287 and any break below confirms major weakness a dip till $1280/$1275. Any major weakness only below $1266.