The sharp retreat in the US yields gives a boost to gold – Are Apple and Tesla good to short? [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The US equities closed Thursday’s session in the negative following a choppy trading session, as investors’ hearts pounded between buying the dip, or selling further on recession fear.

The US 10-year yield declined yesterday, and the sharp retreat in the US yields gave a boost to gold, raising question on whether the gold rally could be sustained, and if yes, how high could it extend.

The dollar gave back gains, letting the EURUSD and GBPUSD rally, but the gains may remain short-lived if the dollar skew in market pricing continues.

On the individual stocks, news that Michal Burry opened a bet against Apple heated conversations about whether Apple is a good ‘short’. And finally, Tesla got kicked out of the S&P’s ESG index, which could have implications on its long-term price potential.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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