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74 Greed

Gold Falls as Bond Yields Surge, While Bitcoin Defies Trend

Original title: Gold Melts as Bond Yields Surge. Watch Bitcoin, Says Ilya Spivak

tastylive 13:32 5,191 views on YouTube BTC +0.2%
Thumbnail for Gold Melts as Bond Yields Surge. Watch Bitcoin, Says Ilya Spivak 13:32

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Summary

Gold and silver tumbled in a delayed reaction to surging bond yields. Bond yields hit their highest in 22 years. The US dollar has stopped rising, and the Russell index already reflects higher rates. Stocks are jittery. The S&P and Nasdaq resist the bond selloff. Gold and silver finally crack under higher yields. Bitcoin defies the precious metals selloff. Bitcoin refuses to play along. Markets still expect aggressive Fed rate hikes. A heavy week of economic data looms. PCE inflation and ISM data put the Fed back in focus. The jobs report becomes the week's biggest test. Strong US growth keeps rate hike risks alive. Positioning includes cutting gold and holding long FX and bitcoin. Price signals are watched in stocks, bonds, crude oil, gold, and the US dollar. The moves come as traders try to make sense of what this means. The week ahead includes PCE inflation, ISM, and the jobs report.

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Key points

  1. Gold and silver tumbled in a delayed reaction to surging bond yields.
  2. Bond yields hit their highest in 22 years.
  3. The US dollar has stopped rising.
  4. Bitcoin defies the precious metals selloff.
  5. Markets still expect aggressive Fed rate hikes.
  6. The jobs report becomes the week's biggest test.

Chapters

Chapters come from the timestamps in the video description.

Questions

What happened to gold and silver?
Gold and silver tumbled in a delayed reaction to surging bond yields, and later cracked under higher yields.
How high did bond yields go?
Bond yields hit their highest in 22 years.
What economic data is in focus?
PCE inflation, ISM data, and the jobs report are in focus, with the jobs report described as the week's biggest test.

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