Gold: Trading at $1221 this morning after #gold continued to drift lower yesterday. Markets continued to digest the US Midterm Election results and then the FOMC statement which signalled that a December hike is still on the cards.
1/5
1/5
With momentum slowing, my attention is coming back to the gaps that have opened up between 1) #Gold and Real Rates and…
2/5
2/5
...The smaller one that has opened up between #gold and the US dollar (here shown as DXY, which is a bit lazy, I know).
3/5
3/5
There is still room for short-covering in #gold from Comex speculators as this slightly out-of-date chart indicates, but for this to continue we probably need a trigger, which is elusive at present.
4/5
4/5
I'm keeping my eyes on broader markets to see whether the recent sell-off in equities is part of a more sustainable move rather than just a flash in the pan as in February. Good Luck
5/5 ends.
5/5 ends.
@threadreaderapp Goodmorning, please unroll. Thank you
