Loading ...US INTEREST RATES HAVE PEAKED
Maybe I’m the first to notice BUT this is a HUGE deal OBVIOUSLY
$TNX is the 10 year Treasury Interest rate.
In Luongo’s Analysis the Fed Keeps raising rates regardless of the damage to the Economy ..and they destroy the European CB .
BUT this chart unambiguously says TNX is headed to 2% ( peaked at 3.5% )
This HAS to be good for Gold …no ?
I lean more toward the world putting pressure on the FED not to raise rates as it is crushing them. No country likes a high currency . Euro CB will fall upon its’ own sword without the help of the FED. Tomorrow is FOMC day and 75 point expected, earnings week and bad #’s are coming out so I expect some whipsaw for a day or 2.
Great chart FGC. It just completed a perfect H&S top. You might see a one day pop to fill that gap at 29 but it is headed down towards the 200day. You are correct about it being positive for gold.
rates have been following crude and gas ..
” the 125 million barrel SPR drain has resulted in a 40 cent drop in gas prices. Well guess what happens when it comes time to replenish it.”
It will eventually be good for gold but this indicates a recession and so cash will flow into paying debts, not buying gold. Once that recession bottoms, then Gold takes off. At least, this is how it plays out in my mind because THEY are going to do something very dumb (MMT?) and that’s when we’ll see hyper-inflation. But who knows war and shortages can induce hyper-inflationt too and then THEY can blame war instead of themselves. Anyway in the shorter term, I think PMs are heading down which is a physical buying opportunity.