Bond yields direct gold price. Look at US30Y .. ever since the REPO madness bond yields started surging. Stock markets need bond prices to go down, yields up, to seem everything is great again. Gold is just a bystander getting squashed at this point, there's nothing gold can do when yields go up, except go down (in my opinion).
Do you have any concrete reason for gold going up/bond yields going down? .. Everyone would suddenly have to start jumping to bonds, but it looks like everything is running away from them at this point. The yield curve inversion has been forgotten about, and everything is back to "normal" according to news.. "What recession?" ... red flags have disappeared.
Next week will be FOMC meeting, Powell will speak and gold will likely fall, as almost every time Powell speaks gold falls. He will probably again say the same thing, no recession, economy is strong, etc. He will never say anything bad for the economy.