What else can be said about gold that hasn’t already been said? The rise continues and continues to do so with prices rising by over $300 this week. Absolutely wild stuff. And with the gains so far today, gold is looking to make it five consecutive days of gains throughout this week.
Earlier, volatility once again increased in Asia, due to which the price fell to $4,280. However, it is now being bought bullishly as we see gold move back up to the $4,370 level.
Gold (XAU/USD) Daily Chart
US-China trade tensions remain a thorny issue this week, but some new developments are being seen in the bond market as well. I warned earlier this week that we were at a turning point and things were finally unraveling as we head into the final trading day of the week.
US Treasury 10-year yield (%) daily chart
10-year yields are now firmly below the 4% mark and this could signal a major change in sentiment, as explained here. So, as we head into trading in the second half of October, be mindful of other things happening in the broader markets.
