A Market Timing Report based on the 3-28-2014 Close published Sunday March 30, 2014
Gold failed to respond to falling interest rates. Yes, the yield on the 10 Year Treasury fell this week well into the tight range it has been hovering in. But gold did not break that badly – yet. It slumped a bit more for sure and is testing below some obvious support levels, namely the 50 and 200 day moving averages. It needs to rally soon or there will be much more damage to the price of gold.
GLD chart:
Gold slipping, testing below support.
Ten Year Treasury Note Yield Chart (TNX, TLT, TBT):
10 Year Treasury Note Yield eases back. And gold does not respond.
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