The global gold price is at its highest level in 6 months What the Fed will do with it

Both futures and spot contracts for the yellow metal jumped by about 2% on Tuesday to reach near six-month highs above the key level of 1,800 dollars per ounce as US consumer price data pointed to a persistent slowdown in inflation from 40-year highs. February gold standard futures contracts on the New York Comex exchange were at 1,826.95 US dollars by 10:32 Eastern Time (15:32 GMT), an increase of 34.65 US dollars, or almost 2%. The session high of 1,836.80 dollars was the highest for gold in the comics since June 27, to record a six-month high. The spot price of gold, which is closely followed by some traders, was at 1,814.87 dollars per ounce, up 33.44 dollars, or about 2%. Sunil Kumar Dixit, chief technical strategist at SKCharting.com "for spot gold, at this stage, the area of 1,810 – 1,800 USD – 1,790 USD has become the current spot support zone, and the price movement is heading for the next major resistance and the target of 1,845 USD,"he said. Gold gained about 200 ...