Gold futures rally despite higher yields and dollar strength.

Gold futures gapped lower yesterday but are attempting to fill that gap and resume a rally. Gold is approximately 7/10% away from its all-time high from September 17th. On a weekly basis, gold has completed its fifth consecutive week of higher prices and fourth consecutive week of new all-time high closing prices. Meanwhile, long-end yields moved higher on the week, and dollar strength historically acting as a headwind, but it did not today, and gold and silver futures both rallied.