Gold showed a minor sell-off after US jobless
claims.
 Read Till End
The number of people who have filed for
unemployment benefits declined by 10000 to
222000 in the week ending May 11, compared tc
the forecast of 219000. The four-week moving
average for new claims rose by 2500 to 217750
from an average of 215250.
US economic data
Building permits - Weak (negative for gold)
Philly Fed Manufacturing Index - weak (bearish
for Gold)
Markets eye FOMC member Waller's speech for
further movement
According to the CME Fed watch tool, the
probability of a no-rate cut in June decreased
to 91.3% from 96.5% a week ago
US dollar index- Bearish. Minor support around
104.50/103.75. The near-term resistance is
106/107.

Technical:
The near-term support is around $2368, a
break below the targets of
$2345/$2320/$2300. The yellow metal faces
minor resistance around $2400 and a breach
above will take it to the next level of
$2420/$2450/
Signal
Buy $2390 with SL around $2300 for TP of
$2435.
Sell $2440 with SL around $2450 for TP of $2400