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Gold Getting Hammered - Nick Santiago #287

Gold Getting Hammered - Nick Santiago #287
Jun 17, 2021 · 4m 26s

1. Gold is getting hammered. Precious metals are all selling off this morning. The catalyst for the decline is clearly from the FOMC announcement yesterday. Even though the Federal Reserve...

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1. Gold is getting hammered.
Precious metals are all selling off this morning. The catalyst for the decline is clearly from the FOMC announcement yesterday. Even though the Federal Reserve is not actually tightening or doing anything yet, the jawboning was enough to scare the gold market.

2. Tech is strong again this morning.
Most of the major stock indexes are declining lower today except for technology. The NASDAQ Composite is the strong index this morning trading up 0.34%. The tech heavy index will usually do well when the yields on the 10-year note pull back and that is the case today. The short term trend in tech is still higher.

3. Bitcoin and cryptos holding steady at lower levels.
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Author Kerry Lutz
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