Gold forming an ascending triangle with its battle along resistance as well as showing higher lows. With the USD declining, yields rising and inflation numbers (somewhat) positive, it looks like gold could be a great long based on fundamental and technical analysis.
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Correction: Gold and yields are inversely correlated based on historical data. However some analysts think that the USD is falling due to low demand for US treasuries. The market isn't reacting as we'd expect (USD should be strengthening based on the expected rate hikes by the FED) however we must not forget the huge government deficit that will grow further with tax cuts and the new government spending plan as well as the current account deficit. I believe these negative factors will outweigh USD's attractiveness as a carry trade based on rising yields and this could work in gold's favour.