An overnight note from Credit Suisse, prior to the gold move higher during US time.
- With 10 year US real yields threatening to break lower, we look for gold to correspondingly break higher from its range above $1765 to confirm a resumption of its core bull trend with resistance seen at $1796/1803 next
- Big picture, we continue to eventually look for new highs above $1921, with resistance then seen next at $2000, then $2075/80
- Support at $1660 needs to hold to avid a near-term top
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And its not just low US rates, happening globally.
