Updates on gold:
- Gold continues to linger below the $1,900 levels.
- On the daily chart, a series of lower highs are observed – pointing towards a decline in the future unless this trend is broken.
- To buck this trend, gold has to take out the $1,921 level – a recent high before moving on to the $1,928 level (a 50-day SMA and 38.2% Fib retracement).
- The US 10 year yield has also hit a multi month high which might leave gold out in the cold.
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