Thu. May 13th, 2021

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Gold runs higher but then gives much of it back

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Gold unable to sustain push

The slump in bitcoin today is serving as a reminder that gold has a 10,000 year history as a store of value.

Gold traders are also keeping a close eye on Treasuries as 10-year yields briefly fell below the 100-day moving average.

Still, after a pop to $1796, gold has sagged back to $1789. In the bigger picture though, gold is consolidating below $1800 after springing from the double bottom at $1675.

Gold unable to sustain push

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