Gold’s Macro Fundamentals

Excerpted from the 31 page NFTRH 283 (dated 3.23.14), which also thoroughly analyzed the precious metals and several other markets from a technical standpoint.

Gold’s Macro Fundamentals

ust2y

This spike in short-term yields (2-year shown) is what harpooned gold last week and finally got it under control.

2.30

More importantly, this spike in the 2-year vs. the 30-year really hurt gold.

These spikes predictably came as the FOMC successfully managed to get the market thinking about an end to the damaging Zero Interest Rate Policy, ZIRP.

Continue reading “Gold’s Macro Fundamentals”