Gold Technical Analysis – All eyes on the US CPI report ...Middle East

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Gold Technical Analysis – All eyes on the US CPI report
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Fundamental OverviewYesterday, we got a dovish reaction in the markets following the US PPI release where the data came in line with expectations. The reaction showed that even little signs of better inflation figures can trigger more bids for gold as Treasury yields and the US Dollar weaken as a result. This will be important to remember in light of today’s US CPI report where in line or soft figures will likely lead to even higher prices for gold in the next days. Conversely, hot readings might have the opposite effect with gold selling off and possibly falling to new lows.Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that from a risk management perspective, the b

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