May 16, 2018

Gold remains flat around $1,290.50 this morning after plummeting nearly 2% yesterday to its lowest level of 2018. The drop is gold’s largest single day drop since December 2016 and comes as the US dollar had its best single day performance in seven weeks and reached its highest point of 2018. Gold’s rapid decline was further accelerated by rising bond yields with 10-year yields reaching their highest level since 2011.