Gold eventually extended the gains in the past couple of days supported by lower real yields and US dollar. There was no fresh catalyst for the moves as the market has been likely driven by repositioning after the lower than expected US inflation data last week. In the bigger picture, gold should remain in an uptrend as real yields will likely continue to fall amid Fed easing. But further hawkish repricing in interest rates expectations could trigger corrections in the short term. On the daily chart, we can see that gold eventually extended the gains into the 3438 resistance as buyers kept the bullish momentum going. ... (full story)