Gold quickly surrendered gains it established at the beginning of the month as the precious metal backed away from its November high around $1965. Recent USD strength was likely a contributing factor to weakness in XAU/USD, but rising yields were likely the more heavy-handed culprit. Considered a safe store of value during market turbulence, gold is inversely correlated with treasury rates as investors can carry risk-free bonds with a certified return instead of the yellow metal which does not provide a return unless it appreciates. {chart} The relationship between yields and gold may prove troublesome for the ... (full story)