Gold intermarket: still a short play or not con-Trump-vinced?

Gold has been on the offer yet again, making fresh lows for the second time tihs week and the lowest levels since the start of June earlier this year. The market remains short of bonds and long of risk-on play. US 30YT were through 3.0, DXY above 100.00 still while the VIX has settled back. USD/JPY has been 2 pips shy of the 110 level and highest levels since the end of May this year.

Gold is looking for a break below $1,200 to meet Oct 2015 highs at $1,191 on the back of a break below the May 2016 lows of $1,199. $1,337 needs to give for the bearishness to subside, putting the yellow safe haven play back into vogue and the late June commencing sideways channel.

Trump policy a big unknown - Nomura 

The Trump factor has roiled markets, but the uncertainty leaves this play a fragile foundation for a convincing short.

King of Debt Takes the Reins - Peter Schiff