price of gold - its inverse relationship with the US 10 yr. bond yield and the S&P 500
over night wednesday oct 29 and Thursday oct 30 -
a dramatic fall in the price of gold and a similar dramatic rise in bond yields........ if your into this - shorting gold and shorting US bonds is looking very much better again, with some very strong direction now showing in each.... .....the chart below shows just up to end US Wednesday but there have been further strong movements today.......gold is now at 1205 and US 10 yr bond ylds are at 2.3%
the implications from these trends is
1. all fears about inflation in the US have now disappeared - so it looks like the pog will continue heading down, breaking the support level at 1180, and after that who knows.
2 bond yields now heading strongly up again...... its been overdue for those in the bond market - I get the feeling it may be for real this time.......
the USD is now rising in relation to all other currencies ????.... to late to be trying to figure all that out
