Callum Thomas has another one of his macro charts that tells a story. In this case the story has the potential to see a sub-1000 gold price. To be sure, there are other considerations in gold’s fundamentals aside from its inverse correlation to the 5yr Treasury yield minus the 5yr Inflation Swap, but what we need to do is have open minds, not steel trap closed ones.
Remember that the macro trends in general now are still positive, despite the angst of the last 2 months. At least be open to different outcomes than what you may be favoring currently. Anyway, I recommend checking out Callum’s latest.
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