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Gold Price Outlook: Awaiting Breakout as Support Holds for Now
2021-01-13 12:00:00
Justin McQueen,
Analyst
Fed’s Powell and Brainard to Downplay Fed Taper Talk
Gold Technical Outlook Remains Weak
Gold Price Outlook: Eyes on the Yield
Yesterday’s strong US treasury auction may have put a short-term top in US yields as US 10s pullback from a high of 1.18%. In turn, US real yields have also halted its climb, which has been among the key directional factors for the precious metal. Keep in mind, that gold and real yields are highly correlated (30-day correlation at -0.78), indicated by the graph below. Therefore, for a view on the near-term outlook for gold, it is important to watch the bond market. That said, there is also the USD side of the equation, which has also capped upside in gold, thus prices have consolidated at the low end of its recent range.
Quick Summary / Abstract:
Members of the public who wish to make comment to the Board of Directors of the William S. Hart Joint School Financing Authority are invited to submit written comments by email to wshpubliccomments@hartdistrict.org no later than 4:00 p.m., December 16. Please reference Joint School Financing Authority in the title of the email and limit comments to a maximum of two minutes when read aloud. Under the requirements of State law, the Board cannot take action on items not identified on the agenda and will not make decisions on such matters.
VI. Election of Authority Officers
Speaker: