Gold has moved back into familiar territory over the past few sessions balancing at $1800/oz once again. The price had a pretty dramatic fall after the FOMC rate decision but has since recovered around a third of the drop. Inflation still remains the elephant in the room as Fed policy seems to be focused on addressing the higher commodities prices. At the moment, PMI releases, later on, will help us understand if producer prices might have peaked as the report has suggested in Europe. Looking at the technical now, the price has come to an important resistance on the 1-hour chart below. The level at the yellow line ... (full story)