๐จ #GoldFallsTo$4144 It's the lowest in 8 Weeks. What's Going On?
The "safe haven" just dropped over 2% in a single session, and it's now down roughly 11% from its late-August highs near $4,700. ๐
Three things are pushing it down:
๐น Yields: The 10-year Treasury is sitting around 5.2%, near its highest since 2007. Gold pays no yield, so holding it costs more.
๐น Fed: Odds of another rate hike in October have climbed to roughly 68%.
๐น Oil: Stalled US-Iran talks keep energy prices high and inflation fears alive.
$4,200 support is gone. Next big level: $4,000. Watch PCE inflation (Wednesday) and the jobs report (Friday) for the next move.
๐ฌ Your call: Is this a dip to buy or a breakdown to respect? Would you rotate into crypto, or hold gold? ๐
โ ๏ธ Not financial advice. DYOR.
#GoldFallsTo$4144 #Gold #XAU #PAXG #Fed
The "safe haven" just dropped over 2% in a single session, and it's now down roughly 11% from its late-August highs near $4,700. ๐
Three things are pushing it down:
๐น Yields: The 10-year Treasury is sitting around 5.2%, near its highest since 2007. Gold pays no yield, so holding it costs more.
๐น Fed: Odds of another rate hike in October have climbed to roughly 68%.
๐น Oil: Stalled US-Iran talks keep energy prices high and inflation fears alive.
$4,200 support is gone. Next big level: $4,000. Watch PCE inflation (Wednesday) and the jobs report (Friday) for the next move.
๐ฌ Your call: Is this a dip to buy or a breakdown to respect? Would you rotate into crypto, or hold gold? ๐
โ ๏ธ Not financial advice. DYOR.
#GoldFallsTo$4144 #Gold #XAU #PAXG #Fed
