Gold:-
Gold futures tilted lower for the second session even as the dollar index declined for the fourth straight session to the lowest since October 19, following earlier data from the US, the world's largest economy. Gold futures were buoyed this week by geopolitical tensions and dollar's slump to six-week lows, after the Federal Reserve's meeting minutes hurt prospects of rate hikes next year due to softening inflation. On another note, UN representative in South Korea said on Wednesday that North Korea has breached the truce signed in 1953 after one of its soldiers passed the borders to chase a defector on November 13, with the defector getting shot and injured in the incident. The fracas raised concerns about renewed geopolitical tensions in the Korean peninsula and raised demand on precious metals such as gold as safe havens in times of turmoil. The Gold is in long short medium term bull phase .Currently Gold is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The Gold is now trading in overbought level. The oscillator is showing sell signal for short term Gold is in hold short position. Support for the Gold is 29070.Resistance for the Gold is 29750.
