The TrumpTrade continues in full force. The yield curve continues to rise along with the USD. Gold selling off heavily again. I would much rather be trading movement then trying to pick bottoms.
$6 Billion Puke Sends Gold Plunging Below $1200 As Dollar Index, Bond Yields Spike
I said a few weeks ago I was selling my gold holdings because yields on the long end of the curve were moving higher at an alarming pace. I have never witnessed bond carnage on the scale that we are seeing now. Who wants to hold gold when inflation is moving higher? Not me, and not the rest of the market it would appear.
The fundamentals have changed, this isn't some short term correction before a huge push higher in gold prices as some people are predicting.
Gold stocks to face more pain today.
Good luck all.
s.loeb
Fundamentals have changed
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Last
$12.80 |
Change
-0.020(0.16%) |
Mkt cap ! $14.71B | |||
| Open | High | Low | Value | Volume |
| $12.95 | $13.02 | $12.76 | $52.27M | 4.057M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 52 | 13841 | $12.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.80 | 11634 | 33 |
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| Last trade - 15.19pm 08/07/2024 (20 minute delay) ? |
| NST (ASX) Chart |