Gold the doomsday hedge, trading tightly between 2318 and 2293. While Central Banks sound confusion on inflation, geopolitical issues are still the buy signal for Gold.

Gold is a doomsday hedge, but not entirely an inflation hedge.  The U.S. Dollar (USD) specifically is, particularly when inflation in America is so imbedded, and the fluctuations and correlation between Gold and Dollar could not be more clearer.  Please refer to the Step Line (purple line) of the USD, with the Gold price overlaid.  

Gold peaked at 2443 after Iran launched a massive drone and missile attack on Israel 14th April 2024, which although probably more symbolic than not, pertaining to Israel's sophisticated missile defense systems that shot down the majority of the Iranian missiles.  Gold was the safe haven on the potentiality for Israel to hit back harder, they did not, in fact Israel's response (19th April 2024) was muted, but shrouded in secrecy and denial.  Gold therefore dropped $42.  And on 24th April 2024, with inflation indicators already flashing read within the American economy, Employee Compensation rose to 1.2% for the 1st quarter.  And indication that wages are rising to offset inflation, which is the clearest sign that inflationary conditions are now so embedded, it is actually quite astounding, but not surprising (to keep the bond market fluid) that the Federal Reserve remains dovish with its rhetoric that rates may be cut in 2024.   

Gold's current trading ranges:  2293, 2318

Resistance: 2342

Support: 2290

Currently bid over 2300