Gold Spikes To 6Y Highs As Dollar, Bond Yields Plunge
Wednesday, June 19, 2019 at 10:34PM
Gold Prices

The 10Y US Treasury yield is now down 11bps from the FOMC Statement, plunging back below 2.00% for the first time since November 2016, erasing almost the entire move since President Trump was elected...

Citigroup sees 10-year Treasury yields falling to about 1.65% by year’s end as the Federal Reserve cuts interest rates up to three times to boost U.S. economy, senior technical strategist Shyam Devani tells Bloomberg.

“Yields have been falling across the curve, and this has been something you haven’t been able to fight,” Singapore-based Devani said by telephone.

“You’ve got a Fed that’s now changed its language and we’re on a path where there’s going to be rate cuts ahead -- whether it’s two or three times, it’s hard to say -- but there will be cuts”

“It’s a combination of things driving this including a slowing global growth environment, trade tensions and low inflation”

Gold has spiked up to almost $1400...

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gold reacted as the dollar fell today, currently trading at $1378/Oz, the inverse relationship is alive and well.

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