Hello Ten-Year One-Handle, Hello Gold
|Gold blasted $48 higher today and the 10-year Treasury yield briefly fell below 2.0% with Mideast tensions rising.
Mideast tensions are heating up as Iran Shoots Down US Drone: "You'll Soon Find Out" if US Plans Strike Says Trump.
I expect cooler tempers will prevail but who knows?
US Treasury Yields
Gold Above Major Resistance
Finally!
Gold convincingly blasted above major resistance in place for three years. Gold needed to top $1377.50 and did. It closed at $1396.90.
A test of the $1340 to $1370 area from above is now likely. If it happens, buy the dip.
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