Gold was gently levitating once again overnight but in the last few hours both gold and silver have taken off (with the latter breaking through pre-Putin levels) and the former breaking above $1385. Gold is now up 6 weeks in a row – the longest win streak since the run into the Aug 2011 highs. Equity prices are tumbling from solidly green levels overnight – tracking EURJPY all the way lower – and Treasury bonds are well bid (-3bps today) with 10Y yields down 17bps on the week.
Gold and silver well above Putin levels now…
With gold up 6 weeks in a row…
and stocks are sold along with EURJPY…
And Treasury yields are tumbling (as rate-locks are unwound and safe-haven bids resume)
Charts: Bloomberg
