Gold tumbling. Yields not running higher, but higher.
The price of gold is helping to contribute to the dollar strength. It is down around -$45 or -2.45% $1789. Silver is also sharply lower at $-0.75 more -2.8%. Looking at the daily chart below, the price has just cracked below a lower trendline today which coincidently cut lower at $1800. That is now resistance. The high price last week stalled just under the 100 day moving average (blue line currently at $1874.33). The inability to move back above that key moving average gave the sellers the go ahead 2 push lower. The next target comes in at the 50% retracement at $1763.51. That level was tested at the beginning of December.
US interest rates are not running higher but they are higher and have been trending higher. The 30 year moved above recent highs (trade at highs going back to March 2020. The 10 year yield is moving closer to its January high 1.1855%. Currently trades at 1.146%.