Fundamental OverviewThere hasn’t been any catalyst this week for the rally in gold although we had a key technical breakout which might have increased the bullish momentum. The lack of bearish catalysts though is helping to keep the bid going as the market has finished to reprice the aggressive rate cuts expectations that weighed on gold in the past weeks as it contributed to lift real yields.In fact, in the bigger picture, gold remains in a bullish trend as real yields will likely continue to fall amid the Fed’s easing cycle. The pullbacks will likely be triggered by a repricing in rate cuts but unless the Fed’s reaction function changes, the uptrend should remain intact.One key event which
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