Technical Analysis

This was the year when central banks intensified their battle against inflation, facing it with a tight monetary policy centered around raising interest rates.

Following yesterday’s rally in a short-squeeze, gold prices continued to refresh two-month highs seen around $1,846 earlier in a largely quiet session on Thursday. On Wednesday, the precious metal saw the largest daily gains since November, deriving support from a downside correction in US Treasury yields that pushed the dollar lower.