When we look at gold for the first time, and this is important. This was the close of business last week, all right? December 13th. Now, we come into the market. And right now if we were to close, and obviously we’re not, this is the first move under that all-important number. So the pattern is now bearish. Will the market hold that support? It has in the past. So we’ll see, but remember what this market’s fighting. It’s fighting a dollar that’s on a run to the upside and interest rates that are higher for longer and higher – two elements to them.
The 10-year note tonight coasted 4.57, you haven’t been there I think May was the last time or so, so it’s an important number. What’s it doing to gold? It’s taking the gold market down right through here. You can see, you’ve got a pattern of a higher high and lower low. These are streaking gold markets right now.
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