Gold stays muted as rising bond yields accompany the US dollar’s comeback. Momentum buying has pushed the precious metal near August’s high of 1803. The RSI’s multiple tops in the overbought zone and a bearish divergence indicate exhaustion and the rally may lose steam around the major supply zone. 1754 is the closest support and its breach would lead to further weakness. Then the precious metal could be vulnerable to both profit-taking and renewed selling. 1713 would be the bulls’ second line of defence.
