- The US dollar still rules the day, which opens up for a correction in gold if we get that bounce in the dollar.
- Negative correlation to VIX is still somewhat high.
- Overall, most of the correlations that have at some points been pretty strong (both negative and positive) are still chopping around near the zero line.
- Gold is for the first time more positively correlated with VWO (Emerging markets) than with either TIP (Real rates) or GVI (Bonds).
- It really looks like gold in US dollar terms is currently trading more as a direct currency (anti dollar hard money) than it has for a long time (at least 2 years+).
- Not really following inflation expectations (TIP).
- Not really following bond yields. (GVI).
Some more things to note: https://twitter.com/Comm_Invest/status/965747076201156608
The Hedgeless Horseman
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