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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (14293)	8/10/2022 10:14:11 AM
From: Sun Tzu	1 Recommendation Recommended By Kirk © Respond to of 27069

Gold moves as a function of 3 forces: USD, UST2Y, and CPI. The first two exert negative forces and latter is positive. The complication is that these forces are interrelated. Your gold chart will look like this if you take out the effects of USD moves. It is not violated anything and is actually positive looking, however, I expect interest rates and USD to remain elevated for the next 2 years, so I find it likely that it will touch the bottom of the range at ~1550. For the sake of reading this chart, drop the decimal point to roughly match the spot price. So far this morning gold's action has been disappointing given the drop in USD and UST.