Gold waking up?
Gold is doing something we have not seen the shiny metal do for a long time. It is currently pushing above the big negative trend channel.
Note 100 day moving is right around here, so it will take some "effort" to push gold above it, but given the fact nobody likes gold these days, a possible break out could be "dynamic".
Gold volatility has imploded over past months in sympathy with other global vols. Recall that gold volatility trades with a positive "skew". Sharp moves higher in gold are accompanied with moves higher in gold volatility. Playing a possible upside with call spreads makes sense here.
Yields up, gold down, yield downs, gold up, but there is another asset that has done the inverse...yields up, bitcoin up. Let's see if the relationship hold the inverse way should yields head lower (chart 3).
Note 100 day moving is right around here, so it will take some "effort" to push gold above it, but given the fact nobody likes gold these days, a possible break out could be "dynamic".
Gold volatility has imploded over past months in sympathy with other global vols. Recall that gold volatility trades with a positive "skew". Sharp moves higher in gold are accompanied with moves higher in gold volatility. Playing a possible upside with call spreads makes sense here.
Yields up, gold down, yield downs, gold up, but there is another asset that has done the inverse...yields up, bitcoin up. Let's see if the relationship hold the inverse way should yields head lower (chart 3).