December 7, 2022

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Gold falls back below $1900 in outside reversal

1 min read

Gold traded as high as $1916

Gold traded as high as $1916

Gold has continued lower in a reversal after touching the highest since early January.

This is part of a broader negative shift in tone as we sift through the flows at the start of the month. Gold had rose as high as $1916 but is now down to $1896.

Technically, this marks an outside day on the chart but I’m a bit skeptical of that, given that the UK and US were on holiday yesterday.

Is this the end of the run? I’m watching yields closely. 10-years are up 3.4 bps to 1.63% today but off the highs.

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