​Range Bound, Awaiting Fresh Catalysts ​​​

Gold is down from earlier session highs, although ranges remain tight overall. The precious metal last sat just above $1650, versus earlier highs close to $1655.

• We are still respecting ranges from the overnight session, with gold waiting for a fresh catalyst to dictate new direction.
• As we noted yesterday, the technical set up still looks to be a bearish one, but we haven't made fresh lows this week, with moves towards $1645 still supported at this stage.
• Cross asset signals are mixed today. Higher beta FX is a touch stronger, but not breaking out of recent ranges. The majors though have been very quiet.
• US yields are slightly higher across the curve, 1-2bps. However, US real yields remained quite steady in the 10yr overnight (closing at 1.60%).