Gold Jumps Above $1320 As Bunds, Treasuries Hit New Cycle Low Yields

Tyler Durden's picture

With the USDollar giving up all the week's gains this morning on the heels of EUR strength (repatriation), weak claims data coupled with import prices sparked a leg higher in gold and leg lower in the yields of bonds on either side of the Atlantic. Gold poked its head above $1320 briefly, having been smacked lower twice overnight. 10Y US Treasury yield is now 2.39%.German 2Y yields traded at -1bp, there lowest in 15 months as 10Y Bunds dropped below 1% for the first time ever. Equity futures are fading back into the red.

 

Gold jumped on US claims and import price data...

 

as The Dollar tumbled...

 

Treasury yields hit new cycle lows...

 

With equities giving up overnight gains...

 

The early jerk higher gains were driven by yet another hope for de-escalation...

 

Charts: Bloomberg