Market Week Ahead: Gold Tests $2k, GBP/USD, EUR/USD Pop, USD Sags
A holiday shortened week saw the US dollar slide, prompting a small rally in gold, while Sterling flexed its muscles after a robust PMI release.
Source: dailyfx.com
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Taper Tantrum Takes a Bite Out of Gold | Gold & Silver Investing Channel
Gold Blues as Silver Woos February was a tough month for gold, which marked its worst monthly performance since November 2016. Spot gold fell $114/oz, or 6.15%, to close the month at $1,734/oz. Half of this decline came in the two final days of February, as bond selling spiked into near panic mode and triggered a multi-asset sell-off into month-end. Figure 1 shows how gold has been inversely correlated to bond yields. February’s pullback occurred on the back of various developments. Rising energy prices and the markets’ view on U.S. government spending bolstered the reflation trade with a...
Source: etftrends.com