by Craig Hemke
Gold Seek
Late last week, after weeks of holding its own and providing some stability through the worsening coronavirus crisis, the price of COMEX Digital Gold was smashed in a manner not seen since April of 2013. Was this just a natural market reaction? Hardly.
The past month has seen truly historic moves in the global equity and fixed income markets. The U.S. stock market has fallen sharply, but perhaps more dramatically, the U.S. treasury market has soared, with interest rates falling in unprecedented fashion. Through it all, trading in COMEX Digital Gold remained solid and price was primarily in a trading range.
Then, early last week, volatility increased. Interest rates fell sharply and then soared higher, often on an intraday basis.