⚖️🔻Gold Relative Strength Detached From Yields: Cable FX Macro
- Rosbel Durán
- Feb 27, 2024
- 1 min read
Spot gold tested levels below $2,000/oz before reversing losses for the month. We have now seen CPI weakness pared back completely
The development is interesting as yields continue to hold ground. The U.S. 10-year is now closer to 4.30%, about a 40bps gain since January
Levels to watch will be the Feb. 7th high at $2,044.60 before the MTD high at $2,065.48
Oddly, gold is mostly unchanged in February but losses beyond 3% stand more in line given the magnitude of the move in 10y yields
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