The price of gold is currently pushing towards a clutch of resistance levels after making a strong rebound over the last week. Support around the $1,675/oz. area held, aided by the 61.8% Fibonacci retracement level at $1,689/oz. and the subsequent rally has the precious metal nearing a cluster of resistance levels which may prove difficult to overcome. One of the main drivers of the recent sell-off in gold has been the ongoing rise in US Treasury yields as the market continues to price in the inflationary effect of the US fiscal and monetary largesse. After hitting a recent 14-month of 1.75%, the yield on the 10-year ... (full story)