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Gold price looks to US CPI data, Fed Minutes and Fedspeak

FOREXCOM:XAUUSD   Or / Dollar Américain
Gold buyers continued to shrug off the extremely overbought 14-day Relative Strength Index (RSI) conditions, as they clinched another record high at $2,365 on Tuesday.

If a Gold price correction sets in on a hotter US CPI report, the previous record high of $2,331 will be tested

The extension of the Gold price pullback could test the April 4 high at $2,305, below which the April 5 low of $2,268 will be tested.

However, if Gold buyers regain poise on cooling US inflation, a fresh rally toward the $2,400 level cannot be ruled out.

Ahead of that, Gold price needs to take out the $2,370 round figure on a sustained basis. The next upside target is seen at the $2,450 psychological level.
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