Gold steadies as weak physical demand, higher U.S. rates weigh
Gold books back-to-back loss to finish around 2018’s lows
Traders Exit Gold ETFs as Dollar Leaves Metal `by the Wayside'
Gold Moves up from 7 Month Low But Risk for Decline Continues to Exist
Headlines say it all
When it comes to the gold market these headlines say it all. Frustration, pessimism, resignation. Granted, it’s not the first time we have seen headlines like this recently, but they’re starting to pop up again.
Notice the same, wrong rationale: higher rates. Higher dollar. Well, rates have been raised 7 times and gold is $200 higher than where it was when the Fed first started raising rates. And the dollar is lower.
Important to stick to the facts and not twist the narrative to try to explain the market’s moves, which in the short-term can be anything. The market will do what it has to do, but over time policy and the fundamentals will dictate where it goes.