I don't know enough about this to give you a proper answer but a few trader friends/portfolio managers have mentioned to me that gold generally goes down as USD price and interest rates goes up. With the Us interest rates increasing many have been predicting steady usd increase and moving out of gold, which is true to date.
Many think this means automatic gold price weakening. My view would be that the words is too volatile at the moment with trump, china, Europe, India etc. for gold to decrease but most will still bet on patterns that have proven true most of the time.
Short Strategy, page-2
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