Fundamental OverviewAfter the breakout of the 2480 resistance, gold eventually extended the gains into the 2532 level as the momentum buyers piled in. In the big picture, gold should remain supported as real yields fall as we head into the Fed’s easing cycle, but in the short-term strong US data might provide pullbacks along the way. Tomorrow, we get the Flash US PMIs and in case the data surprises to the upside, it could lead to some weakness in gold, and it will be interesting to see if the market decides to fade it or it will trigger a bigger correction to the downside.Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that gold recently managed to break above the key
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