UPDATE
Will gold get past 2K?
The rising banking fears have been so significant that even gold, which has been rising sharply in recent days on falling yields, has struggled to get past $2,000. But its appeal as a safe-haven asset and the rallying bond markets suggests it is just a matter of time.
Indeed, the US dollar has continued to weaken against the yen, as the short-end of the yield curve remains under pressure, with US 2-year yields dropping below 3.60% today.
The market is thus betting that we have reached a peak in terms of rate hikes and that from here looser monetary policy should follow.
Keep and eye out for your fundamentals & and pay attention to price action.
The rising banking fears have been so significant that even gold, which has been rising sharply in recent days on falling yields, has struggled to get past $2,000. But its appeal as a safe-haven asset and the rallying bond markets suggests it is just a matter of time.
Indeed, the US dollar has continued to weaken against the yen, as the short-end of the yield curve remains under pressure, with US 2-year yields dropping below 3.60% today.
The market is thus betting that we have reached a peak in terms of rate hikes and that from here looser monetary policy should follow.
Keep and eye out for your fundamentals & and pay attention to price action.
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