Gold is on the cusp of a breakout:I follow Jordan Roy-Byrne, editor of the weekly newsletter THE DAILY GOLD. I find him to be one of the most accurate gold and silver analysts, this is what he said this morning:
Gold has been getting hit due to the rise in bond yields. I've explained how initially that would be negative for Gold.
However, this ratio shows that Gold is on the cusp of breaking to a 6-year high against Bonds. That signals Gold is trying to decouple from Bonds, which have dragged down Gold.