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RE: SILVER UNSURPRISINGLY SMASHED DOWN...AGAIN $SLV $GLD
The 10 year treasury bond yield is a strong leading indicator on gold/silver pricing. The higher yield means more Dollars flow to bonds. More dollars in bonds means lower gold/silver prices. Converse is true as well. Lower yields will put money back into gold and bid up metals.
I agree at the beginning, however gold and silver actually rise in a higher yield environment. I am expecting yields to not breach 3% here SPX is waiting on this confirmation before heading back up (it will breach 3% laster this year IMO)
UPDATE: It just hit 3% lol, I still think it fails here. I do not think this is THE BIG Rates move..
Good eye on the 10 year yield. Pretty much everyone in fixed income trading is in a wait and see for what comes next.