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Monday, June 14, 2021

Gold falls back through $1900 in daily reversal

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Gold down $7

Gold down $7

Gold is down $7 to $1892 in a reversal from a five month high of $1912.

The turmaround comes on a persistent, broad bid in the US dollar.

If gold finishes lower today, it would end a nine-day winning streak and be the first decline since May 12.

Gold has had an outstanding run since the start of April, gaining 14% with the last leg aided by the stumble in crypto.

The Fed has been the main driver with a consistently dovish message. A further leg of strength will need more of the same along with more US government spending.

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