This drop feels scary, but it

This drop feels scary, but it does not look like the end of gold to me.

What changed is not gold itself. It is expectations.

Rates flipped fast and oil has jumped. Yields pushed higher.

That combo probably hit gold so we're seeing outflows.

Gold sells off first when liquidity tightens. Then it bottoms before most people feel comfortable buying again. Right now I am looking at it like this:

• Short term still messy

If yields keep rising, I would not be surprised to see more downside

• But this does not break the bigger trend

Central banks are still buying heavily

Global uncertainty is not going away

So I am not trying to call the exact bottom.

Gold Rebounds — Take Profits or Keep Holding?

Gold prices rebounded strongly, snapping a nine-day losing streak, as reports emerged that the U.S. is seeking a ceasefire to advance diplomatic negotiations. Gold rose as much as 2.2%, climbing back above $4,570 per ounce, extending the previous session’s 1.6% gain. Trump stated that Iran has presented a “gesture of goodwill” for negotiations, related to energy transportation through the Strait of Hormuz. According to Axios, Washington and regional mediators are discussing the possibility of high-level peace talks as early as Thursday, though they are still awaiting Tehran’s response.

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