ANALYSIS
NQ100 Finds Support from PPIApr 14
1850 support plays an important role in Gold
St. Louis Fed President Bullard’s statement "The inflation rate is quite high. It behooves the committee to tack in a more hawkish direction in the next couple of meetings so that we are managing the risk of inflation appropriately,” supported long-term treasury yields in the markets and caused Gold to decline . However, debt ceiling crisis is emerged again and halted these decreases in the precious metal. Technically, bullish moves will continue if it stays above 1850 level. Afterwards 1871, 1882 and 1894 will be the next targets. On the other side, 1838 and 1825 supports will be significant below 1850.
