FXStreet (Mumbai) - A quick fire jump in Gold prices ran out steam again as it neared the hourly 50-MA at USD 1068 leading to a double top formation on the 15-minute charts. Gold under pressure, Treasury yields rise The metal came under pressure as the treasury yields rose following the release of the upbeat monthly CPI figure in the US. A better-than-expected headline figure and an uptick in the core inflation pushed up the 2-year treasury yield by 2.4 basis points. Consequently, the metal fell back from the hourly 50-MA to trade around USD 1064 levels. The prices may drop further if the treasury yields continue to harden ahead of the tomorrow’s FOMC rate decision. Gold Technical levels At USD 1064/Oz, the immediate resistance is seen at 1068.75 (hourly 50-MA), above which the pair could rise to 1071.20 (hourly 200-MA). On the other hand, a break below the support at 1058.41 (daily low) would expose 1046.18 (Dec 3 low). For more information, read our latest forex news.