- Gold rises more than 1% and reaches highs since June.
- Inflation accelerates in the US and requests for unemployment benefits recede.
Gold skyrocketed and was up more than 1% in minutes. The US data despite being better than expected as inflation accelerated, did not stop the metal. The break of the $ 1830 level, caused the XAU / USD to advance more than $ 20 in minutes. The value of the ounce reached $ 1,855, the intradark level since June.
Both gold and silver rose significantly and remain in the highs zone, with the bullish tone intact, despite the recent advance. Both are breaking important technical levels that enable more raises.
Data from the US showed an advance in retail inflation to the highest level since 1990, climbing to 6.2%. At the same time, there was a fall in the initial requests for unemployment benefits, although an increase in the continued ones.
Positioning and technical factors seem to be playing a key role in the soaring of gold and that drag is also boosting silver. Should it continue to rise, the next strong resistance for XAU / USD is seen at $ 1865 and then $ 1880. Now the $ 1830 area has become the benchmark support.