by Craig Hemke
TF Metals Report
A dovish/bullish FOMC allowed for a new all-time high close in spot gold late yesterday. You’ll recall a similar all-time high back on Friday, December 1. The trading since has been eerily reminiscent of the trading on December 3-4 so we must be alert to where things may trade from here in the short term.
Now much/most of this price action today could be attributed to the POSX. It’s unexpectedly back up 45¢ as I type, essentially reclaiming all of the losses from late yesterday.
[…] And though rates are mostly unchanged, bonds have sold off this morning and the yield on the 10-year note is up 6 basis points from where it was when the Comex opened.