Gold Tumbles Below Key Technical Support As 5Y Yields Spike To Six-Year Highs
For the second day in a row, precious metals are being pounded as gold joins silver back below its 200-day moving-average...
Knocking gold back to 3-week lows...
All of which is odd given the chaos in the dollar... Two days of collapse in gold as the dollar goes nowhere...
And Treasury yields are surging - with 5Y back at its highest since April 2011...
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I'm amazed at how gold has been so weak with the declining dollar. And the dollar could really go through the trap door if DXY $92.75 breaks. Not much inverse correlation between gold and the dollar this year, it seems.