Fundamental OverviewGold has been feeling the pressure from the rise in real yields in the last part of May which led to a drop and a consolidation around the 2340 level. More recently, the data showed that the inflation scare of the first part of the year seems to be in the rear-view mirror and therefore real yields dropped giving a boost to gold prices. There’s no strong case for either a rally or a selloff right now, but the bias turned a bit more bullish, nonetheless. A very hot NFP report tomorrow might trigger another drop, but if there are no clear indications of inflationary pressures via wages, the market might eventually erase the losses. Conversely, a weak report should give the m
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