{"id":11957,"date":"2015-06-17T23:10:26","date_gmt":"2015-06-18T03:10:26","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=11957"},"modified":"2015-06-17T23:10:26","modified_gmt":"2015-06-18T03:10:26","slug":"interest-rates-and-inflation-hurt-gold-prices","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/17\/interest-rates-and-inflation-hurt-gold-prices\/","title":{"rendered":"Interest rates and inflation hurt gold prices"},"content":{"rendered":"<p>Where is inflation headed? The five-year breakeven rate (5-Year Treasury Yield minus 5-year TIPS) is hovering around 1.80 percent, close to the latest readings for core CPI. The market is anticipating low inflation for the next few years.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"296\" alt=\"Five-year Breakeven Rate and Core CPI\" title=\"Five-year Breakeven Rate and Core CPI\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-inflation.png?resize=525%2C296&#038;ssl=1\" \/><\/p>\n<p>Long-term interest rates are rising in anticipation of Fed tightening. 10-Year Treasury yields, in a primary up-trend, are retracing to test their new support level at 2.25%. Respect is likely and would signal an advance to long-term resistance at 3.0 percent. Rising 13-week Twiggs Momentum crossed above zero, strengthening the signal.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" alt=\"10-Year Treasury Yields\" title=\"10-Year Treasury Yields\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-tnx.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<h2>Gold<\/h2>\n<p>Low inflation reduces demand for gold as an inflation-hedge, while rising interest rates increase its carrying cost for speculators and the opportunity cost for investors. These factors are exerting downward pressure on gold prices. The spot price recovered above medium-term support at $1180\/ounce, but the breach continues to warn of a test of the primary level at $1140. 13-Week Twiggs Momentum peaking below zero also suggests continuation of the primary down-trend. Failure of $1140 would offer a long-term target of $1000*.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" alt=\"Spot Gold\" title=\"Spot Gold\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-gold.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target calculation: 1200 &#8211; ( 1400 &#8211; 1200 ) = 1000<\/p>\n<p>The Gold Bugs Index, representing un-hedged gold stocks, is testing primary support at 155. Breach of support would strengthen the warning.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" alt=\"Gold Bugs Index\" title=\"Gold Bugs Index\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-hui.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Where is inflation headed? The five-year breakeven rate (5-Year Treasury Yield minus 5-year TIPS) is hovering around 1.80 percent, close to the latest readings for core CPI. The market is anticipating low inflation for the next few years. Long-term interest rates are rising in anticipation of Fed tightening. 10-Year Treasury yields, in a primary up-trend, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/17\/interest-rates-and-inflation-hurt-gold-prices\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Interest rates and inflation hurt gold prices&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,9,13,35],"tags":[70,94,95,818,1420,1580,2156,3204],"class_list":["post-11957","post","type-post","status-publish","format-standard","hentry","category-fixed-income","category-gold-precious-metals","category-inflation-economy","category-us-dollar-index","tag-10-year-treasury-yields","tag-5-year-tips","tag-5-year-treasury-yield","tag-core-cpi","tag-five-year-breakeven-rate","tag-gold-bugs-index","tag-low-inflation","tag-spot-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Interest rates and inflation hurt gold prices - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest rates and inflation hurt gold prices - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Where is inflation headed? The five-year breakeven rate (5-Year Treasury Yield minus 5-year TIPS) is hovering around 1.80 percent, close to the latest readings for core CPI. The market is anticipating low inflation for the next few years. 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The next level of support is $1000\/ounce*. * Target calculation: 1100 - ( 1200 - 1100 ) = 1000 Inflation Core CPI is\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"Spot Gold","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-17-gold.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-17-gold.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-17-gold.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":12440,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/10\/26\/low-inflation-and-a-stronger-dollar-indicate-weak-gold\/","url_meta":{"origin":11957,"position":1},"title":"Low inflation and a stronger dollar indicate weak gold","author":"ColinTwiggs","date":"October 26, 2015","format":false,"excerpt":"Growth in hourly manufacturing earnings has climbed above the Fed target of 2.0 percent, while core CPI continues to track near the target. But the 5-year breakeven rate (5-year Treasury minus TIPS yield) is close to 1.0 percent. The market expects inflation to fall over the next few years. The\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"5-Year Breakeven Rate, Core CPI and Growth in Hourly Manufacturing Earnings","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-5yrbreakeven.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-5yrbreakeven.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-5yrbreakeven.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":13789,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/10\/26\/low-inflation-and-a-stronger-dollar-indicate-weak-gold-2\/","url_meta":{"origin":11957,"position":2},"title":"Low inflation and a stronger dollar indicate weak gold","author":"ColinTwiggs","date":"October 26, 2015","format":false,"excerpt":"Growth in hourly manufacturing earnings has climbed above the Fed target of 2.0 percent, while core CPI continues to track near the target. But the 5-year breakeven rate (5-year Treasury minus TIPS yield) is close to 1.0 percent. The market expects inflation to fall over the next few years. The\u2026","rel":"","context":"In &quot;Market Insights&quot;","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"5-Year Breakeven Rate, Core CPI and Growth in Hourly Manufacturing Earnings","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-5yrbreakeven.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-5yrbreakeven.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-5yrbreakeven.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":22001,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/10\/14\/low-cpi-will-not-halt-golds-rise\/","url_meta":{"origin":11957,"position":3},"title":"Low CPI will not halt Gold&#8217;s rise","author":"Colin Twiggs","date":"October 14, 2020","format":false,"excerpt":"The consumer price index (CPI) came in at a modest 1.4% for September, measured as year-on-year percentage change. Core CPI (excluding energy & food) was slightly higher, at 1.7%. The medium-term outlook for inflation is modest. If so, why all the excitement about Gold? Surely the main function of Gold\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10388,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/24\/gold-retreats-as-dollar-strengthens-2\/","url_meta":{"origin":11957,"position":4},"title":"Gold retreats as Dollar strengthens","author":"ColinTwiggs","date":"July 24, 2014","format":false,"excerpt":"Treasury yields weaken further The Dollar continues to strengthen Inflation target remains at 2% p.a. Gold retreats Interest Rates and the Dollar The yield on ten-year Treasury Notes broke support at 2.50 percent, indicating a test of 2.00 percent*. 13-Week Twiggs Momentum below zero warns of a primary down-trend. Follow-through\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"10-Year Treasury Yields","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-24-tnx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-24-tnx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-24-tnx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11592,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/03\/05\/dollar-breaks-out-gold-tests-support\/","url_meta":{"origin":11957,"position":5},"title":"Dollar breaks out, Gold tests support","author":"ColinTwiggs","date":"March 5, 2015","format":false,"excerpt":"The 5-year breakeven rate for inflation \u2014 calculated by deducting the yield on 5-year TIPS from the 5-Year Treasury yield \u2014 rallied in recent weeks and is testing resistance at 1.60%. But the long-term trend is down and we should expect another test of support at 1.2%. Apart from Japan,\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"5-Year Treasury Yield minus 5-Year TIPS yield","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-03-05-inflation.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-03-05-inflation.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-03-05-inflation.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=11957"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11957\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=11957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=11957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=11957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}