Fundamentally in the short term I cannot see how Feds can tame inflationary pressures with tapering and IR hike without crashing demand which is an optimistic way of looking at the state of their economy. Is supply chain prices hiking infer demand pull or just restriction of supply?
Bond yield rise, gold falls and vice versa. The FA and TA do not seem to correlate.
One forecaster, David Hunter, predicts a melt up in stockmarket H1 then a 70% destruction. Gold to rise to $2,300 eventually. I am skeptical on this gold forecast if bond yield keep rising and even more suspicious of the argument if stockmarket crashes.
$1835 resistance zone is so close and confluence with yesterday's gold high, 50% Fibo swing.
