Bullion slips as the US dollar rallies after relatively hawkish FOMC minutes. The precious metal continues to grind lower due to bearish inertia in the short-term. Timid rebounds so far have met stiff selling pressure. 1845 is the immediate resistance and the bears are expected to sell into strength as sentiment remains skewed to the downside. This leaves little room for the bulls to manoeuvre. A break below 1818 would send gold to the psychological level of 1800 in the consolidation zone from last December.
