Strategists at Credit Suisse look for 10yr US Real Yields to break lower from their sideways range to reinforce the break higher and resumption of the core bull trend in gold for an eventual move to new record highs above $1921.
“With 10yr 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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