Spot gold surged to the highest levels in 1 ½ month on Friday, lifted by weaker dollar and a pick-up in inflation expectations, while the rally accelerated after taking out barriers at $1791/93 (Fibo 61.8% of $1834/$1721 / 200DMA) and psychological $1800 level, triggering stops parked above.
The yellow metal advanced nearly 1.5% so far and is on track for the second consecutive weekly gain.
Weekly close above $1800 level would add to bullish signals which look for confirmation on close above cracked Fibo 76.4% barrier that would open way towards key barriers at $1834 zone (l July/Sep lower platform).
Daily techs turned to full bullish setup and support the action, which needs to hold above broken $1800 level to keep bulls in play.
Res: 1812; 1823; 1827; 1834
Sup: 1807; 1800; 1794; 1791