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.

Morning Wrap (08.01.2026)
Daily summary: Alphabet shares support sentiments on Wall Street π½Oil, precious metals and crypto slide
US grains surge on commodity fund buying π Wheat up 1.5%
Oil dips below $60 amid EIA reportπ¨Is a sell-off coming?