US10Y yields and Gold Miners (GDX)
Gold is an inflation hedge, so expect to see XAUUSD rising as the CPI and PCE data prints show consistent prints above 2% on average for the year.
US10 year yields steepen against the 2-year yield as short-term inflation expectations are crushed by QE and low-interest rates but medium-term inflation risks are starting to show their presence in the cost of commodities, materials, and rising wages. The Fed is adamant that the current signs of inflation will be transitory and as the base effects from last year fall out of the year-on-year data readings the inflationary pressures will ease.
Gold producers on the COT report had trimmed their short positions from the beginning of 2021 until April but have started selling more again as the price of Gold bounced off $1700, which make me feel that the range between $1700 to $1900 is here to stay for a while longer.
One way to try and capitalise on the price of Gold without the need for it to break 2k necessarily is to invest in a Royalty or Streaming company. With prices for mining output already set, the Royalty companies can still make money even when the gold price is falling. They don't operate mines themselves, and so the huge infrastructure and operating costs do not fall to them.
US10 year yields steepen against the 2-year yield as short-term inflation expectations are crushed by QE and low-interest rates but medium-term inflation risks are starting to show their presence in the cost of commodities, materials, and rising wages. The Fed is adamant that the current signs of inflation will be transitory and as the base effects from last year fall out of the year-on-year data readings the inflationary pressures will ease.
Gold producers on the COT report had trimmed their short positions from the beginning of 2021 until April but have started selling more again as the price of Gold bounced off $1700, which make me feel that the range between $1700 to $1900 is here to stay for a while longer.
One way to try and capitalise on the price of Gold without the need for it to break 2k necessarily is to invest in a Royalty or Streaming company. With prices for mining output already set, the Royalty companies can still make money even when the gold price is falling. They don't operate mines themselves, and so the huge infrastructure and operating costs do not fall to them.
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