The first round of the French election allayed fears of a populist surge in Europe’s 2nd largest economy. In the environment of heightened political risk, gold rallied $100, approaching the key $1300 level. Prices have retreated since, providing an opportunity to begin adding to the position. Below are a few charts elaborating the current gold story.

DXY vs Gold

DXY Currency Breakdown

US vs German Real Yields

Euro Positioning

Fed Fund Futures and Gold

Gold vs Futures Contract Premium

Finacial Gold ETPs and Futures

GLD Options Outstanding

Gold vs US 5-year real yield

Gold vs US 5-year real yield 1 year

Yield Curve Flattening