Over at Bloomie this morning the yield curve is indicated to be rising, with nominal yields dropping.  Unlike yesterday, which was theoretically at least the worst in-day configuration (we continue not to take any one day’s signals in a vacuum) for gold, today’s is probably the best, with yields dropping but the curve rising.

Still, it’s a wax on, wax off, wash-rinse-repeat cycle until direction is chosen by the markets.  Here is the view of the 10′s vs. the 2′s at yesterday’s close.  Team Rising Yield Curve needs the noted support to hold.