Gold hits an all-time high.
Gold breaks the Asian spike-high from December
Gold is trading like a crypto coin this week.
It's up another $22 today to $2137, which breaks the Asian spike high from early December. It's the third straight day of gains in a clear breakout above the $2000/$2100 level that's held up gold several times since 2000.
It's up another $22 today to $2137, which breaks the Asian spike high from early December. It's the third straight day of gains in a clear breakout above the $2000/$2100 level that's held up gold several times since 2000.
In the past week, the market has traded as if the US economy had taken a downturn, or as if non-farm payrolls had been weak. Instead, there have been a handful of soft second-tier data but nothing that would give anyone some real conviction in a slowdown and rate cuts.
But it's not just gold that's showing a flight to safety. Treasury yields are lower today, including a 6.6 bps dip in Treasury yields to 4.15% well off the recent 4.35% recent high. $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$ $S&P 500 Index(.SPX.US$ $Gold(BK2110.US$ $SPDR Gold ETF(GLD.US$
But it's not just gold that's showing a flight to safety. Treasury yields are lower today, including a 6.6 bps dip in Treasury yields to 4.15% well off the recent 4.35% recent high. $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$ $S&P 500 Index(.SPX.US$ $Gold(BK2110.US$ $SPDR Gold ETF(GLD.US$
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