Gold found support at 1850.00 after a corrective decline on Monday, which was caused by the high volatility in markets and increase in dollar demand. It can be assumed that if the US inflation data scheduled to be published tomorrow turns out to be no higher than expected, the dollar will decrease, which, in turn, will prompt a rally in gold prices.
technical picture:
The quote is below the middle line of the Bollinger indicator, above the SMA 5, but below the SMA 14. The relative strength index (RSI) is below 50% and is moving horizontally, while the stochastic indicator is leaving the oversold zone.
Possible dynamics:
An increase above 1866.30 may lead to a price jump to 1890.25.
