from Dan Norcini:
This has been the pattern since August of last year and with just a few exceptions, gold has been moving in sync with 10 year Treasury note futures. Remember, a rising Treasury market means FALLING YIELDS.
As money rushes into bonds to park it while waiting out the uncertainty which is negatively impacting the equity markets, yields will move inversely. AS a matter of fact, the yield on the 10 year is currently sitting at 1.664%. It is set to close out the month not that far above the all time LOW yield near 1.50% ( remember this is a monthly closing yield and does not take into account intramonth spikes.
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