With Gold falling below its November low of 1862, we might get short term bearish on the price of gold.
HOWEVER
Bond yields are rising for 2 potential reasons; economic growth or inflation outlook.
Though short-sighted wallstreet may think a major recovery is on the cards, the US market was in dire straights before covid already.
Inflation prospects is thus higher probability.
Also, see the MACD / Price divergence on Gold.
Gold might bounce from these levels.
HOWEVER
Bond yields are rising for 2 potential reasons; economic growth or inflation outlook.
Though short-sighted wallstreet may think a major recovery is on the cards, the US market was in dire straights before covid already.
Inflation prospects is thus higher probability.
Also, see the MACD / Price divergence on Gold.
Gold might bounce from these levels.
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