Gold(en) reversal?
Gold is one of the more hated global assets around.
Yes, the trend has been down since the "blow out" top last August.
Nothing seems to work for gold, but as we pointed out the US 10 year real yield has shown sign s of reversing recently.
Let's see how this plays out, but we are not used to seeing gold up on the day...
Note the negative trend channel in gold that remains perfectly intact since August, but bounces can be furious as well, especially when consensus is one way only, and currently we know of practically only gold bears.
US 10 year real yield inverted vs gold.
Yes, the trend has been down since the "blow out" top last August.
Nothing seems to work for gold, but as we pointed out the US 10 year real yield has shown sign s of reversing recently.
Let's see how this plays out, but we are not used to seeing gold up on the day...
Note the negative trend channel in gold that remains perfectly intact since August, but bounces can be furious as well, especially when consensus is one way only, and currently we know of practically only gold bears.
US 10 year real yield inverted vs gold.