Clearly, the key in these scenarios is a rally in the bond market and lower nominal rates, regardless of whether the CPI comes in hotter or cooler than expected.
If this rally continues, it should test the $1,826.40 / the 18 week moving average. Gold pushing the upper daily Bollinger band open, overbought but embedded..
Bullion is hovering near a four-week high as the fallout from U.S. House Speaker Nancy Pelosi’s visit to Taiwan keeps markets on edge, the article explains.
This change in Fed expectations from 4.0% down to 3.25% (.75% decline) on the Fed Funds rate has been accompanied by a .70% decline in the 10-year Treasury bond yield and..
