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Gold jumps above $4,200 as US yields fall- was that an overreaction?
The reaction across the markets to all that US data we just noted has seen US yields drop back and that has seen the 10 year note slip, but in reality not really by that much. Nevertheless, the reaction in Gold has been positive and the metal shot back above the $4,200 handle. Gold rose as high as $4,219.33, but it has almost immediately pared the move.
So, was that an overreaction? Well, we think it was but the markets are pretty thin this afternoon and we would not be surprised if the move higher is not sustained, but we shall have to see on that. Anyway, it is falling back right now and currently trading at $4,208.50
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US Treasury yields push higher- As suspected Gold reverses earlier gains (corrected)
The last time we noted the jump above the $4,200 handle in Gold following the US data releases, we did question whether the move to $4,219.33 was an...
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US Treasury yields push higher- As suspsected Gold reverses earlier gains
The last time we noted the jump above the $4,200 handle in Gold following the US data releases, we did question whether the move to $4,219.33 was an...
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DAX hits fresh session lows as US markets prepare to kick off
The European stock markets might have gotten a short-term boost from the gains seen after the US data releases across the US futures, but that has...