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Gold Price Forecast: Gold Break Out as Bulls Take Charge, FOMC Minutes Eyed WikiFX  |  2021-05-18 12:07:03 Gold Bulls Take Charge Softer USD and Falling Real Yields Underpin Gold Gold Levels to Watch  GOLD BULLS TAKE CHARGE Gold bulls remain in control with the precious metal closing above its 200DMA for the first time since early February. The combination of lower real yields and a softer USD, which has broken below the psychological 90.00 handle has underpinned this latest move in gold. With that said, the move above trendline resistance puts 1875 in focus, which marks the mid-January high. A break above this level and the door opens up to a test of 1900, while there is little in the way until 1960-65. As I have highlighted previously, the key indicator to track for the direction in gold is real yields, with increasingly negative real yields, gold supportive.