XAUUSD Analysis Thursday 12 MAY 2022

XAUUSD Analysis Gold is forming consolidation after the steep fall from Monday. and taking support of its upward slopping trend line which is near $ 1830. If XAUUSD Analysis, it holds below this mark. then only fresh selling might be come and drag down $1820 and $1805. On opposite side it is taking resistance of 9 DAM. which is near to $ 1860 above. this mark fresh buying till next level of $ 1885 and $ 1900. Further US CPI DATA jumped 8.3% year-on-year in April. expected a growth of 8.1%, while a growth of 8.5% was recorded in March. The data suggested that inflation may have peaked but remained close to a 40-year high. The data is unlikely to derail the Fed’s aggressive monetary policy plan.