The price of gold appears to be recovering after taking out the April low ($1950), but failure to trade back above the 50-Day SMA ($1992) may undermine the recent rebound in the precious metal as the moving average no longer reflects a positive slope. Gold Price Rebound Brings Test of 50-Day SMA The price of gold trades to a fresh weekly high ($1978) while longer-term US Treasury yields slip to fresh weekly lows, and the precious metal may stage a larger rebound as Federal Reserve Governor Philip Jefferson, a permanent voting-member on the Federal Open Market Committee (FOMC), warns that ‘higher interest rates and ... (full story)