Gold soars through resistance

Gold soars through resistance

Gold has busted through a key resistance area at $1833 in the aftermath of today's CPI report. We've been keeping a close eye on that zone because it was tested four times in the summer and held. Offers there capped gold yesterday but with inflation raising new questions about the value of money (and bonds), gold broke through.

With that, I'll offer a warning: We've seen plenty of data-driven gold moves in the past few months and many of them were quickly reversed.