FXStreet notes that gold (XAU/USD) continues to trade sideways as the yellow metal mostly moved in a very tight range in January, hovering from $1825 to $1875. Howie Lee, Economist at OCBC Bank, expects gold to go on trending sideways.

“The rising Treasury yields continue to make a bull run in the gold market challenging. A widening spread between breakevens and nominal yields would be needed to give the bullish gold story legs to run higher. Until then, the precious metal may continue trending sideways.”