Gold pared some of its gains after upbeat US
economic data.
US ISM manufacturing index expanded in March
to 50.30 after 16 months of contraction,
compared to a forecast of 48.50.
Read Till End
According to the CME Fed watch tool, the
probability of a no-rate cut in June increased
to 62.10% from 55.20% a day ago
Technical:
The near-term support is around $2240, a
break below targets of $2228/$2215/$2200. The
yellow metal faces minor resistance around
$2265 and a breach above will take it to the
next level of $2300
Signal
Sell $2266 with SL around $2280 for TP of
$2250/$2240.
Buy $2240 with SL around $2200 for TP of
$2285/$2300.