Gold slipped early Monday as the U.S. Dollar Index traded near a two-week high and as Asian stocks and equity markets around the world rallied after wild swings last week.
The yellow metal had climbed to a new six-year high last week as investors fled to safety amid turmoil in equity markets, fears that the global economy is heading for a recession and negative bond yields.
This morning, benchmark U.S. Treasury yields rose gaining distance from last week’s record lows which led to the market disrupting inverted yield curve (the two- and 10-year bonds inverted for the first time since 2007 on Wednesday).
Also up are global Equity markets. The signs of moves by Germany and China to counter slowing growth cheered investors helping European markets rise for a second session. Continue reading →