October 2022 vibes on $GLD right now.
Then: 10Y ripped over 4%, gold got crushed to the $1,600s. That was the bottom of the cycle.
Now: 10Y at 5.36% — a 24-year high. $GLD down 1.7% to $375.88, about 11% off the highs in a month.
Same setup, same pressure. Rates spike, gold bleeds.
October '22 marked the low. This feel like a washout bottom again, or just the start of more pain?
If history rhymes, we're close. If it doesn't, we're early. Watch the 10Y — if it peaks here, gold catches a bid. If rates keep climbing, $GLD has more room to fall.
I'm watching for a reversal signal, not catching the knife yet.
Then: 10Y ripped over 4%, gold got crushed to the $1,600s. That was the bottom of the cycle.
Now: 10Y at 5.36% — a 24-year high. $GLD down 1.7% to $375.88, about 11% off the highs in a month.
Same setup, same pressure. Rates spike, gold bleeds.
October '22 marked the low. This feel like a washout bottom again, or just the start of more pain?
If history rhymes, we're close. If it doesn't, we're early. Watch the 10Y — if it peaks here, gold catches a bid. If rates keep climbing, $GLD has more room to fall.
I'm watching for a reversal signal, not catching the knife yet.