As 10-year US-Treasury yields drop, Gold took on momentum, driven also by the window from Mid-December through Mid-January (displayed in orange).
While the mode looks a little extended on the upside, the yield-sensitive precious metal is also known for its trend stability, meaning that we could see a direct push up to the next potential target region of around 1,650/700 USD.
Technically, the break above the 2019 yearly highs around 1,557 USD is a clear sign, with 1,557 USD and below 1,520/525 USD acting as potential long trigger.
On a daily time-frame Gold stays as long as we trade above 1,440/450 USD.
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