Loading ...By looking at the bond market, prices falling since 2021 meaning rates have been rising since 2021. However, Gold is still a lot higher too. Try to imagine how high Gold would be today without the higher rates.
I suspect nobody in buying, so the sellers of paper AU AG positions have to lower their limit orders to sell things. Physical investors not likely selling any at all and possibly buying more. Some PM shares people, also sitting with nice profits on miners, maybe selling the shares to buy physical.
My friend used to say, “what’s fast don’t last”. So gold went up fast, and came down fast, which also won’t last. I myself also noticed, the best performers, have the biggest declines and the biggest rebounds.
Bonds: https://finviz.com/futures_charts.ashx?t=BONDS&p=m
Gold: https//finviz.com/futures_charts.ashx?t=METALS&p=m