Going for gold in a higher yield, falling equity market

Technical Analysis

Author: Giles Coghlan | gold

Seeking gain from Gold

Gold makes sense again. US 10 year treasuries yields are rising and the Equity markets are falling with price falling further in the US last night in the S&P and Dow and Nasdaq. More declines look imminent and ominous.

In this situation Gold regains it's shine. Gold is a safe haven when other things are unattractive. With the bond market turning bearish and equities falling, Gold is a sensible place to park the bus for awhile.

Looking at the 1 hour Gold below chart the 1hr EMA provided good support yesterday and I would anticipate buyers will turn up at that level again today. Have it marked. (100hr EMA is the blue line)

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