During the European session, the gold was traded around 1,726 as investors were expecting the US Consumer Price Index (CPI) data, due later on Tuesday. As the CPI was released – showing a greater than expected inflation for March – the gold made an up move to 1,748.82, closing near to march’s highest price. With increasing concern about US inflation, the Gold could resume the uptrend, as it’s seen as a safe haven in times of uncertainty. From a technical point of view, if it breaks above the 1,755.00, it could go up to the 1,850,00 level, where it will face some resistance.
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© 2019 High Leverage FX - All Rights Reserved.