{"id":19598,"date":"2020-01-02T02:02:33","date_gmt":"2020-01-02T02:02:33","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19598"},"modified":"2020-01-02T02:02:33","modified_gmt":"2020-01-02T02:02:33","slug":"gold-rallies-as-the-dollar-weakens-but-rising-yields-may-counteract","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/02\/gold-rallies-as-the-dollar-weakens-but-rising-yields-may-counteract\/","title":{"rendered":"Gold rallies as the Dollar weakens but rising yields may counteract"},"content":{"rendered":"<p>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.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-12-31-gold2.png?w=525&#038;ssl=1\" alt=\"Gold (USD\/ounce)\" \/><\/p>\n<p>Silver is similarly\u00a0 testing resistance at $18.00\/ounce, while declining Trend Index peaks warn of LT selling pressure.\u00a0 Expect another test of support at $16.50.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-12-31-silver2.png?w=525&#038;ssl=1\" alt=\"Silver (USD\/ounce)\" \/><\/p>\n<p>China&#8217;s Yuan is testing resistance at 14.35 US cents, while rising Trend Index troughs suggest buying pressure. Expect retracement to test support but the LT outlook is more bullish.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-12-31-cny.png?w=525&#038;ssl=1\" alt=\"CNYUSD\" \/><\/p>\n<p>The Dollar Index, which should behave inversely to the Yuan (CNYUSD) above, is headed for a test of primary support at 96. Breach would be a strong bear signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-12-31-dxy.png?w=525&#038;ssl=1\" alt=\"Dollar Index\" \/><\/p>\n<p>A weakening Dollar is a bull signal for Gold but it is driving up Treasury yields \u2014 raising the opportunity cost of holding precious metals \u2014 which is likely to offset rising demand.<\/p>\n<p>10-Year Treasury yields are testing resistance at 2.0%. Breakout would offer a target of 2.50%.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-12-31-tnx.png?w=525&#038;ssl=1\" alt=\"10-Year Treasury Yields\" \/><\/p>\n<h2>Australia<\/h2>\n<p>Australia&#8217;s All Ordinaries Gold Index is testing the upper border of its downward trend channel. Declining Trend Index peaks have leveled off, suggesting that selling pressure is easing. Expect another test of support at 6000; respect would signal that a base is forming. Breakout from the trend channel would strengthen the signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-12-31-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 and the current correction may offer an attractive entry point. But we first need a clear breakout from the trend channel to confirm that the up-trend is intact.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 of support at $16.50. China&#8217;s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/02\/gold-rallies-as-the-dollar-weakens-but-rising-yields-may-counteract\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold rallies as the Dollar weakens but rising yields may counteract&#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":[42,9,35],"tags":[69,166,678,1073,3204,3206],"class_list":["post-19598","post","type-post","status-publish","format-standard","hentry","category-chinese-yuan","category-gold-precious-metals","category-us-dollar-index","tag-10-year-treasury-yield","tag-all-ordinaries-gold-index","tag-chinese-yuan","tag-dollar-index","tag-spot-gold","tag-spot-silver"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold rallies as the Dollar weakens but rising yields may counteract - 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 rallies as the Dollar weakens but rising yields may counteract - the patient investor\" \/>\n<meta property=\"og:description\" content=\"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 of support at $16.50. 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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\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold rallies as the Dollar weakens but rising yields may counteract - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Gold rallies as the Dollar weakens but rising yields may counteract - the patient investor","og_description":"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 of support at $16.50. 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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-566","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":19645,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/18\/gold-testing-resistance-despite-dollar-rise\/","url_meta":{"origin":19598,"position":0},"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":19604,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/11\/gold-bearish-on-imminent-phase-1-deal\/","url_meta":{"origin":19598,"position":1},"title":"Gold bearish on imminent phase 1 deal","author":"Colin Twiggs","date":"January 11, 2020","format":false,"excerpt":"The U.S. and China are finalizing a bevy of long-running corporate deals ahead of a high-profile ceremony to sign a trade deal next week that the world\u2019s largest economies seek to cast as a major breakthrough and a marked warming in the relationship. Along with a Chinese delegation led by\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":19598,"position":2},"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":[]},{"id":17057,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/15\/silver-warns-of-further-gold-weakness\/","url_meta":{"origin":19598,"position":3},"title":"Silver warns of further Gold weakness","author":"Colin Twiggs","date":"September 15, 2018","format":false,"excerpt":"Precious metals tend to trend or consolidate together, driven by similar investor motives. Spot silver is testing primary support at $14 per ounce, while a Trend Index peak at zero warns of selling pressure. Breach of support would signal a primary down-trend. Gold is still testing support at $1200\/ounce but\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19456,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/16\/gold-silver-and-treasury-yields\/","url_meta":{"origin":19598,"position":4},"title":"Gold, Silver and Treasury yields","author":"Colin Twiggs","date":"November 16, 2019","format":false,"excerpt":"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's Yuan penetrated its descending trendline against the Dollar. Similarities\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":19570,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/12\/14\/trade-deal-bearish-for-gold\/","url_meta":{"origin":19598,"position":5},"title":"Trade deal bearish for Gold","author":"Colin Twiggs","date":"December 14, 2019","format":false,"excerpt":"Donald Trump is talking up the prospects of a trade deal, while China remains non-commital, but experience has taught us to judge the two parties more by their actions than the rhetoric. The Chinese Yuan is strengthening against the US Dollar, testing resistance at 14.35 US cents. A strengthening Yuan\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\/19598","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=19598"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19598\/revisions"}],"predecessor-version":[{"id":19599,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19598\/revisions\/19599"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}