Breaking: Gold drops $20, T-yields spike as Biden set to announce $2 trillion stimulus
On the report, Gold saw a quick drop of about $20 to near $1832 levels, as the sell-off in the US Treasuries fuelled a 2% jump in the 10-year Treasury yields, prompting a fresh bounce in the US dollar index.
Asia Market: Signs of sunny days ahead
With short dollar trades tempering over the great US dollar debasement story of 2021, it's not such an easy glide path for gold to start the year. So, I suspect gold remains tied to the hip of the US dollar fortunes this quarter. The market then morphs into "sell the rally mode" as the US economy recovers tangentially to the vaccine distributions.
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