Gold extended its recovery supported by a retreat in US Treasury yields.
The price has recouped most losses from the previous sharp liquidation. A break above the intermediary resistance at 1762 has confirmed strong buying interest.
Buyers will need to close above the origin of the firesale and the psychological level of 1800 to seal the deal in their favor. Then 1830 would be the last hurdle before a full-blown reversal.
A repeatedly overbought RSI may cause a temporary pullback with 1755 as key support.
