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.

US Open: S&P 500 at ATH, Strait of Hormuz nearing reopening, Palantir up 23%
Platinum gains 6% as precious metals rebound, US Dollar weakens
π¨ Brent crude falls below $80!
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