Higher Yields Hit Gold, But for How Long? | Metals Mine

  • Higher Yields Hit Gold, But for How Long?

    From sunshineprofits.com

    The price of gold remains at $1,850, and the key drivers are higher bond yields and a stronger risk appetite. Last week, the yellow metal tanked below $1,900 again, and it hasn’t rebounded since the plunge – instead, the price of gold has stayed at around $1,850. What happened? The main driver of the recent weakness in the precious metals market has been the Democratic victory in the Georgia Senate elections. Thanks to this trifecta, the Democrats have taken control of the White House, the House of Representatives, and the Senate. Consequently, there are lower chances of a political gridlock in Washington and ... (full story)

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Trader#F808
Jan 14, 2021 7:05pm
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Useful thoughts in the article and in a sense reflective of current price action. Clearly, Gold appears to be in a decision range just now: High [1858] (the monthly average price line) and Low [1835]. Penetration either side of this range should equal short to medium-term direction. The article appears to favour the notion of a sustained selloff near-term and we should find out on the day, which side the market plays.

The Crow (-_-)
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