Gold extended the previous day's rejection slide from the very important 200-day SMA and witnessed some follow-through selling for the second successive session on Thursday. The downward trajectory dragged the XAU/USD back closer to monthly swing lows, around the $1,780 region, touched earlier this week. Despite signs of easing inflationary pressures in the US,...
The USD is higher, maybe a reaction to the US CPI data release later today (A hotter-than-expected inflation report may prompt concerns that the Fed's resolve on 'transitory' may not hold up for too long, paving the way for quicker normalisation in policy i.e. tapering in order to afford more flexibility going into next year.)
As per Elliott Wave analysis Gold...
