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Gold continues to range trade in the short.....>

GOLD
GOLD: Gold continues to range trade in the short term albeit within its broader
downtrend. A contracting range is forming on the hourly chart with 1129.40
acting as resistance and 1218.20 as support. Such formations tend to resolve in
a continuation of the broader trend. 
- Bigger picture, the decline in gold prices over recent months has been
entirely in line with fundamental factors - namely rising US real yields and
falling commodity prices - and both point to further weakness ahead.
Additionally, the gold-silver ratio remains near historical highs, which is
another headwind for the yellow metal.
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