Rising inflation and dovish FED are fueling the gold prices again. Despite over 5% inflation, long-term inflation expectations remain flat for some time. But demand for long-term bonds increased recently and rates fall below 1.4% which is causing the spread of inflation expectations and rates to widen. Gold may get more fundamental support in the short term if FED keeps its dovish stance.
Gold is testing the %50 levels of the June fall. Just above that resistance, the 233-day moving average is a key level for the short to medium-term direction. Closes above that moving average may fuel the gold with more bullishness. 1877 can be the next resistance north of the moving average.
For downward moves, 144-day moving average, 1807 can be followed as support below 1815.
