Gold breaking key levels of resistance amid inflation concerns, more gains in store?

Spot gold prices continue to advance and have now broken to the north of their 200DMA and a long-term descending trend channel that had been in play for many months. The next big area of resistance is in the $1950-$1960 region, where lies the Q1 2021 and Q4 2020 highs. If inflation concerns continue to rise, particularly the concern that US officials in both the government and Fed have overheated the economy with all the fiscal and monetary stimulus, gold could be in store for further upside.  

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0:15 GOLD