Video: Short-Term Negative Fundamentals for Gold
The strength in the stock market and recent jobs report augur for higher yields in the short-term. The 2-year yield rebounded from support at 4.00%. This could lead to short-term expectations of a tighter Federal Reserve and no expectations of rate cuts this year. It’s short-term negative for Gold.
The major driver for Gold continues to be recession that forces the Federal Reserve to cut rates.