Spot gold closed higher last week. Brent crude pulled back from above $100 and Treasury yields eased from their highs. The gain came late Friday on dip buying and short-covering but the rally stalled well short of the levels that would signal a turn. The FOMC on Wednesday and Thursday’s PCE report are sitting directly in front of a market that has dropped 23% since February and has not found a reason to stop falling beyond positioning relief when oil pauses. Spot Gold settled at $4,052.845, up $35.53 or +0.88%. {chart} The trend is down according to the weekly swing chart and the 52-week moving average. A trade ... (full story)