Gold prices surge as US inflation heats up – What’s next? [Video]
Gold prices surged on Tuesday from their lowest level in more than a week after a sharp rise in U.S inflation boosting the metal's appeal as an inflation hedge.
The Consumer Price Index, which measures the change in what customers pay for goods and services such as groceries, clothing and gas, climbed 0.6% in March – it’s biggest monthly increase since August 2012. This report follows last week’s PPI data, which showed producer prices rose 4.2% annually, the fastest pace since September 2011. Read more...
Gold analysis: Remains below 1,750.00
The sharp surge of the yellow metal's price ended just before the metal reached the 1,750.00 level. Since the middle of Tuesday's trading, the price was trading sideways between the 100-hour simple moving average and the 1,750.00 level.
In the case of the metal passing the resistance of the 1,750.00 level, the pair could test the March high levels above the 1,755.00 mark. Read more...
Gold Price Analysis: XAU/USD remains confined in a range above 100-hour SMA
Gold extended its sideways consolidative price moves through the mid-European session and remained confined in a narrow trading band, around the $1,745 region.
A generally positive tone around the equity markets failed to assist the safe-haven XAU/USD to capitalize on the previous day's goodish bounce from the $1,724 area, or over one-week lows. Apart from this, a modest uptick in the US Treasury bond yields further collaborated towards capping gains for the non-yielding yellow metal. Read more...
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