Gold is actually really simple to trade at the moment as it is being driven by the US yield story. The expectations of the Fed having to move on hiking rates more quickly at is sending real yields higher. Remember that falling real yields is good for gold, and rising real yields is bad for gold prices. However, it is necessary to look at real yields in association with the USD.
What you want to see, in order to get a handle on gold’s direction, is not only real yields and the USD moving together, but good reasons for that to continue. When both of these other markets align, that makes gold’s direction much more predictable.
Here would be the best scenario for further gold upside into year end and 2022.
If you would like to track this yourself, and you use trading view, here is the symbol information.
The problem you will discover is that real yields are only updated daily. So, if you want to get a sense for real yields intraday then you can use this TIPS bond ETF symbol: AMEX:TIP. It is updated during the UK afternoon after the US open and is a good proxy for real yields.
Ok folks that is the key to getting a handle of gold. If the stars align then just use the key tech to manage and define that risk. Some of the very major levels marked below: