XAU/USD climbed as much as 1,929 yesterday where it found resistance. Now, it has retreated and is trading at 1,906 at the time of writing. Later, the Canadian Consumer Price Index could report a 0.6% drop and could bring strong action in Gold.
From the technical point of view, the price of Gold developed a flag pattern. This could represent a bullish continuation pattern. Coming back to test and retest the near-term support levels could announce a new bullish momentum.
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