Gold remains supported, ending yesterday’s session little changed at $1701.73, after printing higher on the back of Dr. Fauci’s 3.5 hours senate hearing where he warned against the perils of reopening too soon.
Risk off sentiment is gaining traction as the market awaits Fed Powell’s speech today along with U.S PPI data, both expected to drag the greenback lower.
An hourly close above $1707 should set the tone for higher prints on the yellow metal, with 1718 as the closest resistance target
Support: 1700 / 1684 / 1674 / 1668
Resistance: 1718 / 1730 / 1738 / 1750