Consumers are down in the dumps --- and that stacks up as a positive signal for gold that shines brighter than many of the more often-cited inputs, a top...
Consumers are down in the dumps — and that stacks up as a positive signal for gold that shines brighter than many of the more often-cited factors for movements by the yellow metal, a top Wall Street technician said Thursday.
“We don’t find inflation, real‐rates, money supply or any of the theoretical inputs to be of much use for golds forward returns. We do, however, find consumer confidence to be a meaningful input, with high levels of confidence preceding weak forward returns and a dearth of confidence setting up bullish returns,” said Jeff deGraaf, founder of Renaissance Macro Research, in a note.
Gold is up around 6% so far in 2022, more than holding its ground even as Treasury yields have surged and the dollar has rallied. Rising bond yields raise the opportunity cost of holding nonyielding assets like gold, while a firmer dollar is also seen as a headwind for commodities priced in the unit.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jeff Kauffman: DAOs Will Own Big Brands'A community is going to form without a brand involved, and this community is going to purchase a Fortune 1000 brand,' predicts jeffkauffmanjr. jeffwilser chats with the founder of parachuteXYZ jumperstweeting. RoadToConsensus for Consensus2022
Read more »
4 ways you can personalize your Roku to make it your ownRoku recently shared a series of useful tips to help device owners personalize their Roku experience to their liking.
Read more »
Electric vans 25% cheaper to own than diesel - European climate groupThe average electric van in the European Union is 25% cheaper over its lifetime than the diesel equivalent despite much higher upfront costs for zero-emissi
Read more »
Lamborghini Is Auctioning the Final Aventador Ultimae Coupé With Its Own NFTThe digital token was designed in collaboration with digital artist Krista Kim and DJ Steve Aoki.
Read more »
Marcel The Shell Is Getting His Own MovieThe award-winning and adorable character voiced by Jenny Slate is getting his first big screen adventure.
Read more »