Yep that's about right. As soon as rates rise, stocks fall, and the safe havens catch a bid. The trick is to ignore the 10 year yield rates in isolation and concentrate more on (inflation minus yield). There is a chance that we could eventually see bond yields rise to multi year highs, USD rise and gold rise at the same time.
The trend recently is gold prices get hammered down by manipulators right before key market sensitive announcements that are potentially positive for gold price. Have a look this year how many times gold has been crunched and just bounced right back again, yet there could be another day or two of selling before the FOMC announcement.
