Gold prices are important not just to traders of gold coins, but also as a great leading indicator of lots of things that will happen in the future. This week’s chart shows one of the messages we can take from gold prices, which concerns long-term interest rates. In this chart, the plot of gold prices has been shifted forward by 20-1/2 months, in order to help reveal how the dance steps that gold prices make tend to get repeated by long term interest rates. The Treasury Yield Index (TYX) is the current yield-to-maturity (YTM) on the most recently issued 30-year Treasury bond. For reasons that are not immediately ... (full story)