🚨 HISTORICAL DATA: Gold just closed one of its 5 worst weeks in the last 40 years, breaking below $4,500 (closing at $4,497), which represents 10% losses on the weekly.



What has caused this massacre?
Fed policies, now the market assumes there will be no rate cuts soon, given inflation that refuses to die.
The yield on 10-year Treasury Bonds spiked to 4.38%. The opportunity cost of holding gold is extremely high right now.
We must pay close attention to the global landscape, with the military conflict (U.S., Israel, Iran) driving the rise in oil, clearly the dollar (DXY) is beginning to strengthen and act as a liquidity vacuum.
Finally, Bitcoin is showing signs of holding up, staying above $70,000, and after 7 red monthly candles, it's on track to close this month in green relative to gold.
BTC0.71%
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