Gold added to its biggest monthly gain since July as the dollar weakened and investors awaited fresh data on the U.S. economy to feed the debate about inflation.
Bullion wiped out losses earlier this year with a 7.8% rise over May amid signs of accelerating inflation. Fresh virus outbreaks and patchy economic data have also boosted gold, which is again drawing investors via exchange-traded funds -- a major driver of last year’s rally.
Once again the market rejects an attempt to turn the trend down into a sustained bear selloff. The rebounding action in yesterday provides a short term bullish signal and call for rallies to attack 1927.0 resistance. A close over 19270.0 is bullish and targets a drive to 1959.0. A close under 1886.0 (Today's SAR) is bearish.