PHYS - Gold swings above & below the $1800/oz fulcrum point

Filograph/E+ via Getty Images Gold swings back and forth above and below the $1,800/oz level early on in Thursday’s trading session. The moves in the precious metal's price relates to the risk-on sentiment as futures are higher and the U.S. 10-Year Treasury yield levels rise and fall on the day. Gold has recently slipped two days strait as the U.S. 10-Year Treasury yield has rallied for two days in a row and look to push for a third. The 10-Year has recovered 15 basis points since its recent low on Tuesday. During that same time, gold has fallen 1%. Below is an hourly chart dating back to June 1st looking at gold and the U.S. 10-Year Treasury yield and how they inversely correlate of late. Gold investors are also watching the U.S. dollar index as the two traditionally trade in opposite directions. The DXY, however, traded lower on Wednesday but did

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Gold swings above & below the $1,800/oz fulcrum point