Gold Is Getting Slammed

Stocks, bonds, and gold are all drifting lower in the wake of the release of the minutes from the FOMC’s October meeting.

The yellow metal in particular is feeling the pain. Right now it’s trading at $US1242 an ounce, down 2.4% on the day.

The S&P 500 is down 0.3%, trading at 1783.

10-year Treasury futures are down 0.2%, and the yield on the 10-year note is 2.78%, 7 basis points higher from Tuesday’s close.

All are at or right near their lows of the day.

The charts below show the moves. From left to right across the top are the S&P 500, the dollar-yen exchange rate, and the euro-dollar exchange rate. From left to right across the bottom are gold futures, 10-year Treasury futures, and WTI crude oil futures.

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