Its Over, page-8036

I think Gold will be a 2nd half story, especially when we start seeing higher inflation finally coming through, which should push real yields down.

Gasoline prices are starting to pick up in the US at $2.69/gal and is said to be moving higher ahead to possibly $4 , higher petrol would usually push everything higher.

Infrastructure stimulus possibly in 2nd half of the year may be another reason for a lower dollar in the second half.

In the meantime, economic recovery tilts in favour of US over EU due to vaccination progress is likely to cause the US dollar to stay strong.

Obviously tonight's Fed outcome will be important again in determining where bond yields head.