Gold tumbled after hotter US inflation propelled the greenback across the board. The precious metal has been grinding its way up after it stabilised next to the major support 1690. Though it gave up its latest gains and came to a rest on the psychological tag of 1700. The price action is now at a crossroads. A lack of follow-up bids could shift the direction to the sell side. A drop below 1690 might seal its fate and cause an extended sell-off. 1713 is the first hurdle and the bulls need to clear 1730 before they can regain control.
