Gold and Inflation

 

Gold reaches weekly highs despite rising yields. Following the release of the US May CPI report, XAU/USD fell to $1824, the lowest level in three weeks, as Treasury yields rose. 

Gold broke above $1850 and gained strength after moving sideways in a wide range. 

Technical factors, as well as the yellow metal’s likely reaction to inflation, are driving up gold prices. Bears appear to be capitulating in the short term. Gold is rallying even as the dollar and US yields are rising.

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EDGE-FOREX 

#edgeforex #forextrading #forexsignals #forex #gold #inflation #yield #high #strength #resistance #xau #usd 

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