Gold surged slightly after upbeat US CPI data. It rose 0.9% in October compared to a forecast of 0.90% The 12-month inflation surged to 6.2%, the biggest gain since 1990. The US dollar index gained sharply and hits one month high after inflation data. Any close above 95 confirms further bullishness. The US treasury yields regained more than 10%. Gold hits a high of $1868 and is currently trading around $1851.80 .
Technical: It faces strong support at $1800 violation below targets $1780 / $1760 /$1750$1740. Significant trend continuation only below $1675 . The yellow metal is facing resistance at $1835 , any break above will take the yellow metal to $1860 . The major bullish trend after it breaks $1835 .
It faces strong support at $1800 violation below targets $1780 / $1760 /$1750$1740. Significant trend continuation only below $1675 . The yellow metal is facing resistance at $1835 , any break above will take the yellow metal to $1860 . The major bullish trend after it breaks $1835 .