UPDATEWill 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.
