Gold Soars To Fresh 6-Month High While Risk Off Accelerates

Gold was gently levitating once again overnight but in the last few hours both gold and silver have taken off (with the latter breaking through pre-Putin levels) and the former breaking above $1385. Gold is now up 6 weeks in a row – the longest win streak since the run into the Aug 2011 highs. Equity prices are tumbling from solidly green levels overnight – tracking EURJPY all the way lower – and Treasury bonds are well bid (-3bps today) with 10Y yields down 17bps on the week.

Gold and silver well above Putin levels now…

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With gold up 6 weeks in a row…

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and stocks are sold along with EURJPY…

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And Treasury yields are tumbling (as rate-locks are unwound and safe-haven bids resume)

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 Source