Gold historically is affected by the USA treasury notes 10 yr has risen from .50 last year , now around 1.50 %, similar moves wih 30 yr 

The feds will bring them back down so they can afford to service  about 30 or so trillion $$ in debt. They will be buyers of those treasury notes big time till they lower rates where they want them. Doesn't seem they are concerned about inflation even though all signs are pointing up.

Gold should move up as those rates fall.

"don't fight the feds" as the saying goes.

R