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.

Oil Price Erases Geopolitical Premium Faster Than After the Conflict with Russia. Is This the End or the Beginning of the Declines?
BREAKING: Oil inventory report still shows a decline. WTI crude oil at its lowest since the end of February
Fed Warsh tones down the hawkish sentiment and gives hope gold bullsπ‘
The defense industry is recouping losses - is this a trend change?