Gold follows real interest rates,,,,,it's the simplest correlation in the books.....
The Orange Line is Gold-Inverse.
The Chart shows: US10Y (10YearYield US Treasury) - T10YIE (Ten Year Inflation expectation) = Real Rate
If you are bullish on Gold real rates need to retreat.
If you are bearish on Gold real rates need to soar.
X.x
nuggetrouble..... a nugget is a gold fragment weathered out of a lode. trouble.... that's ones perception