With the unwind from the breakout holding, we look to use a near term buy zone between $1625/$1642 as an opportunity for long positions to push for a test of the $1702 March multi-year high. Gold has held the breakout to near four week highs and the outlook remains positive. We continue to see gold moving in line with the US dollar. The correlation is increasingly positive in the past week and suggests that the two have a safe haven correlation. It is interesting that the same cannot be said for US Treasury yields. The US 10 year Yield has edged higher in recent sessions (selling bonds), even as gold has broken out. ... (full story)