{"id":19456,"date":"2019-11-16T00:51:03","date_gmt":"2019-11-16T00:51:03","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19456"},"modified":"2019-11-16T00:51:03","modified_gmt":"2019-11-16T00:51:03","slug":"gold-silver-and-treasury-yields","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/16\/gold-silver-and-treasury-yields\/","title":{"rendered":"Gold, Silver and Treasury yields"},"content":{"rendered":"<p>10-Year Treasury yields retraced from resistance at 2.0% this week but rising Trend Index troughs indicate upward pressure on yields. Breakout above 2.0% would strengthen the signal. Higher long-term rates would increase the opportunity cost of holding Gold, reducing demand.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-15-tnx.png?w=525&#038;ssl=1\" alt=\"10-Year Treasury Yields\" \/><\/p>\n<p>China&#8217;s Yuan penetrated its descending trendline against the Dollar. Similarities between the two patterns (above and below) suggest that China is reducing purchases of Treasuries, increasing upward pressure on yields.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-15-cny.png?w=525&#038;ssl=1\" alt=\"Chinese Yuan CNY\/USD\" \/><\/p>\n<p>Rising yields would normally strengthen demand for the Dollar. Instead, declining Trend Index peaks warn of long-term selling pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-15-dxy.png?w=525&#038;ssl=1\" alt=\"Dollar Index\" \/><\/p>\n<p>Gold found short-term support at $1450\/ounce but further rises in Treasury yields would increase the selling pressure highlighted by declining peaks on the Trend Index.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-15-gold3.png?w=525&#038;ssl=1\" alt=\"Gold (USD\/ounce)\" \/><\/p>\n<p>Silver broke support at $17.00\/ounce, with an even steeper fall on the Trend Index warning of a further decline on Silver and Gold.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-15-silver.png?w=525&#038;ssl=1\" alt=\"Silver (USD\/ounce)\" \/><\/p>\n<p>Australia&#8217;s All Ordinaries Gold Index continues its downward trend channel, headed for secondary support at 6000. Declining Trend Index peaks again warn of strong selling pressure. Respect of 6000 would signal that the primary up-trend is intact, while breach and a test of primary support at 5400 would again warn of trend weakness.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-11-15-xgd.png?w=525&#038;ssl=1\" alt=\"All Ordinaries Gold Index\" \/><\/p>\n<h3>Patience<\/h3>\n<p>Gold is in a long-term up-trend. A correction may offer an attractive entry point but we first need to confirm that the up-trend is intact before increasing exposure to gold stocks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>10-Year Treasury yields retraced from resistance at 2.0% this week but rising Trend Index troughs indicate upward pressure on yields. Breakout above 2.0% would strengthen the signal. Higher long-term rates would increase the opportunity cost of holding Gold, reducing demand. China&#8217;s Yuan penetrated its descending trendline against the Dollar. Similarities between the two patterns (above &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/16\/gold-silver-and-treasury-yields\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold, Silver and Treasury yields&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,9,35],"tags":[70,166,678,1073,3204,3206,3718],"class_list":["post-19456","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-gold-precious-metals","category-us-dollar-index","tag-10-year-treasury-yields","tag-all-ordinaries-gold-index","tag-chinese-yuan","tag-dollar-index","tag-spot-gold","tag-spot-silver","tag-xgd"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold, Silver and Treasury yields - 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=\"Gold, Silver and Treasury yields - the patient investor\" \/>\n<meta property=\"og:description\" content=\"10-Year Treasury yields retraced from resistance at 2.0% this week but rising Trend Index troughs indicate upward pressure on yields. Breakout above 2.0% would strengthen the signal. Higher long-term rates would increase the opportunity cost of holding Gold, reducing demand. China&#8217;s Yuan penetrated its descending trendline against the Dollar. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-53O","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":23196,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/12\/real-interest-rates-and-the-dollar-belie-gold-weakness\/","url_meta":{"origin":19456,"position":0},"title":"Real interest rates and the Dollar belie Gold weakness","author":"Colin Twiggs","date":"December 12, 2020","format":false,"excerpt":"The 10-year TIPS yield weakened to -0.96% on Thursday, compared to -0.94% last week. The Fed balance sheet is expanding slowly which would not exert much downward pressure on yields. But commercial bank holdings of Treasury and Agency securities are rising steeply. Negative Treasury yields increase demand for Gold as\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":24635,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/03\/20\/gold-and-another-treasury-sequel\/","url_meta":{"origin":19456,"position":1},"title":"Gold and another Treasury sequel","author":"Colin Twiggs","date":"March 20, 2021","format":false,"excerpt":"Long-term Treasury yields are strengthening, with the 10-year reaching 1.73% on Friday. The real yield shrank to -0.58% (1.73 - 2.31), breaking resistance at -0.60%. Long-term yields may be rallying but the primary trend is downward. Fed asset purchases are accelerating. The Dollar Index is testing resistance at 92. Rising\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":19598,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/02\/gold-rallies-as-the-dollar-weakens-but-rising-yields-may-counteract\/","url_meta":{"origin":19456,"position":2},"title":"Gold rallies as the Dollar weakens but rising yields may counteract","author":"Colin Twiggs","date":"January 2, 2020","format":false,"excerpt":"Gold rallied off support at $1450, testing resistance at $1500\/$1520. Lower Trend Index peaks continue to warn of long-term selling pressure and another test of support at $1450 is likely. Silver is similarly\u00a0 testing resistance at $18.00\/ounce, while declining Trend Index peaks warn of LT selling pressure.\u00a0 Expect another test\u2026","rel":"","context":"In &quot;Chinese Yuan&quot;","block_context":{"text":"Chinese Yuan","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/chinese-yuan\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19645,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/18\/gold-testing-resistance-despite-dollar-rise\/","url_meta":{"origin":19456,"position":3},"title":"Gold testing resistance despite Dollar rise","author":"Colin Twiggs","date":"January 18, 2020","format":false,"excerpt":"Signing of the US-China phase one trade deal did little to quell demand for Gold, with the precious metal continuing to test resistance at $1560\/ounce. But a strengthening Dollar makes another test of primary support at $1450 likely. Silver is similarly testing resistance at $18 to $18.50, but declining Trend\u2026","rel":"","context":"In &quot;Chinese Yuan&quot;","block_context":{"text":"Chinese Yuan","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/chinese-yuan\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19817,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/22\/gold-soars-as-treasury-yields-fall\/","url_meta":{"origin":19456,"position":4},"title":"Gold soars as Treasury yields fall","author":"Colin Twiggs","date":"February 22, 2020","format":false,"excerpt":"10-Year US Treasury yields broke long-term support at 1.50%, warning of another test of record 2016 lows at 1.33%. The yield curve can be expected to invert any day now, with the 10-year\/3-month differential headed for zero. The Dollar Index is testing resistance at 100. Breakout would signal a long-term\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":19478,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/gold-treasuries-and-chinas-yuan\/","url_meta":{"origin":19456,"position":5},"title":"Gold, Treasuries and China&#8217;s Yuan","author":"Colin Twiggs","date":"November 22, 2019","format":false,"excerpt":"China's Yuan retreated against the Dollar, encountering resistance at 14.35 US cents as the seemingly endless trade talks hit another rough patch. Breach of recent support 14.15 would warn of another test of primary support at 14 cents. Chinese purchases have weakened 10-Year Treasury yields in the last two weeks.\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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19456","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=19456"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19456\/revisions"}],"predecessor-version":[{"id":19457,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19456\/revisions\/19457"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}