Yeah, the Iran war sure hasn’t helped the metals to be sure. Interest rates have risen because of the inflation it’s caused, the dollar also bottomed almost at the exact time as the war started, and pm’s started selling off – both in February. The yield on the 10 yr. started rising within a week or two of the dollar bottom. The war certainly caused these things to rise.
The yield on the 10’s today, broke down through the 50 dma but to no avail, the dollar is bouncing along the 20. We shouldn’t have been down at all, much less like this.
Maybe it is the war, but I find it hard to believe that folks thought it was over or that Israel would let us walk away. We shouldn’t now. OTOH, we both agree we should have never gone in, especially when we did. It was foolish and as Mr. Copper said, could have been done after the mid-terms. We’ve beaten that horse to death. Whether knowingly or not, it was a gift to the communists and globalists.
I suppose it’s back to the same old story, gold is not a safe haven asset unless a currency is collapsing or in times of extreme money printing. Outside of those two conditions, there’s zero reason to own anything pm related.
Maddog – indeed, being the world’s dominant force comes with a price. We were the grand experiment. A “constitutional republic” if we could hold it. But men do as they always do and seek power, riches and personal comfort or preferences above integrity and sovereignty. Republicans had the chance to turn the clock back and hold power for decades if only they had held the platform and the promises.