Gold edges higher $US1743

With bond yields now consolidating their recent advance and the $US showing signs that it’s short term rally is losing steam, the probably for a bounce in Gold is increasing. The chart below clearly shows the downtrend remains in tact however the ingredients are there in MM’s view for gold to break the channel and move up through US$1800/oz. Overnight spot gold added $US15.23 / 0.88%.