Gold pops as sentiment sours

This isn’t looking good. The S&P 500 is down 2.2% with sentiment quickly deteriorating. The IMF forecasts underscore how far the outlook has deteriorated in the past few months between omicron and inflation.

Gold is a winner today, flexing its muscles as a safe haven. it’s up $8 to $1850 and trading at the best levels since late November. I highlighted the January seasonal effect for gold many times and it’s playing out once again.