Bond yields continue their sharp rise as traders bet on a quick reflation scenario. One of the major victims is Gold – there is a strong negative correlation between yields and Gold prices as we were showing at the last weekly webinar. Gold prices were underpinned by $1765 level for a while but a surge in yields eventually was too much and now we can see prices moving towards the lower limit of a channel with still plenty of room and horizontal $1680 level along the way. Do notice how 50 and 75 LWMAs now work as a resistances – another sign of a possible trend reversal.
CoreWeave results: Expansion without profit and without direction
Chart of the day: SILVER doesn't give up 📈 Capital flows back to the market 🔍
Morning wrap: Indices climb despite shots fired in the Strait of Hormuz 📈 💥
Daily Summary: A shift in sentiment at the end of the day 💥⬇️
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