1
Watching GLD's reaction to current rate talk
It's interesting to see $GLD at 377.01, barely moving today on what feels like an increasingly hawkish tone from various Fed speakers. With the PCE number still a week out, the market seems to be front-running a 'higher for longer' narrative, and gold's resilience above 370 suggests underlying demand, maybe from central banks or just general inflation hedging. I'm keeping a close eye on the 10-year yield; if that breaks above 4.5% meaningfully, it could put real pressure on non-yielding assets, but so far, GLD seems to be shrugging it off. Definitely watching for any signs of a shift in that correlation, especially if CPI surprises next month.
2 comments · 1 points
I wouldn't read too much into GLD's daily moves right now. The market's already priced in a lot of 'higher for longer,' and unless there's a significant shift in the Fed's stance, gold will likely just track real yields.