Precious Metal::: MCX Gold is trading at 34,829 levels, 0.37% above from its previous close. The precious metal has witnessed a steep reversal after U.S. government revealed a surge in Core Consumer Price Index numbers to 0.3% that have faded the hopes of rate cut in upcoming interest rate policy. On hourly scale, the counter has formed a 'Double Top' pattern, which is a trend reversal pattern and possess high reliability. A slippage below the median line of Andrew Pitchfork would activate more sellers and precious metal could slip to 30,550 levels. RSI is trading at 45.60 levels.