Gold prices trading on firm note amid Middle East Tensions & US Presidential Elections Uncertainty.

Gold opened Gap-Down on Monday morning after giving a strong close at 2747$ on Friday. However, Buyers jumped to buy yellow metal in Early Asian Session & the metal is currently trading at 2743$ after making a low at 2724$ at the time of writing this report. The weekly chart of Gold suggest that Buyers are still in control as strong bullish candle has been formed. The Dollar Index & US10 Year Bond Yields continue to rise & are at trading at 31st July,2024 highs. 

Gold Structure: Strong Bullish Candle on Weekly, Hanging Man on Daily, Gap Down Opening, Distribution at Top

Intraday Strategy/ Intraday Trend: Buy on Support,Sell on Resistance/ Neutral

Weekly Trend: Hyper Bullish

Major Resistance: 2740,2747,2755

Major Support: 2725,2718,2712