Gold Downtrend Dollar Yield Pressure
Gold's recent rebound is a temporary technical bounce within a broader downtrend that began in January
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"Technical signals also act as a headwind: the relative strength index suggests gold is approaching near-term 'overbought' levels, keeping the 200-day moving average, currently at $4,504, as a strong resistance level."
"From a technical perspective, last week's bounce may just be a temporary breather in gold's downtrend that has been in place from January - with the next key technical support at US$3,857-3,887/oz."
"the pause is likely to be a temporary breather within the broader downtrend... last week's bounce may just be a temporary breather in gold's downtrend that has been in place from January"
"the pause is likely to be a temporary breather within the broader downtrend as rising US real and bond yields, along with a strengthening US dollar, continue to weigh on bullion"