Gold price stuffed?


Recent weeks have seen the big gold correction ease off into a little bounce. In these strange days we also need to account for Bitcoin which has likewise flamed out and struggled:

Gold pausing before falling or turning higher?

Gold pausing before falling or turning higher?

The driver of the correction has been higher US real interest rates, a bottoming US dollar and a tearaway Bitcoin which has stolen a lot of ETF retail thunder. Via UBS:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.