11 October 2012
Gold Daily and Silver Weekly Charts - Negative Real Yields Are Good for Gold
Today's 30 year Treasury auction was described as 'soft' as the cover rates were not as robust as yesterday's ten year. Ten-year notes started the day yielding 1.679% and were recently yielding 1.684%, while 30-year bonds were up 12/32 in price to yield 2.875%.
Personally I think that buying a 30 year bond yielding under 3 percent is insanity.
Negative real yields on Treasury debt is a highly bullish indicator for gold.
SP 500 and NDX Futures Daily Charts - Another Dull Day
Stocks showed a little bounce today but not much.
The bulls need to get their footing in order to make this a correction and not a trend change.
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