Gold moves sharply lower and interest rates higher leads to a stronger dollar

Gold tumbling.  Yields not running higher, but higher.

The USD is trading at highest levels vs. EUR, JPY, CHF, CAD, AUD and NZD. The only major currency it is not trading at the high is the GBP. The BOE gone the way of that idea earlier today.  Nevertheless the GBPUSD is off the highs. The GBP remains the strongest of the major currencies. Adam talks to the moves from a fundamental basis. Click here for his post
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.

Goal prices have cracked lower

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%.

10 year yields are moving higher

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