Gold Daily Outlook

Yellow metal at higher levels. DXY is holding well above 90 levels, significant breakout only above 91 levels. The slight recovery in the US 10-year yield is putting pressure on the yellow metal at higher levels.  US ISM manufacturing PMI came at 58.70 compared to an estimate of 60.

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Technical:

It is facing strong support at $1840, violation below targets $1830/$1820/$1800.On the higher side, near term resistance is around $1875, any indicative break above that level will take till $1885/$1900.

It is good to buy on dips around $1848-50 with SL around $1840 for the TP of $1900.

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