Gold price action has stabilized since last week’s sharp selloff. The precious metal sank nearly 7% from its year-to-date high of $1,963 and invalidated its breakout above $1,900 . Surging Treasury yields, and corresponding US Dollar strength, stand out as the primary driver of recent gold volatility. {chart} On the back of ‘high price tag’ stimulus plans expected from president-elect Biden, however, future inflation expectations seem to be accelerating higher. This is likely helping steer real yields tick back lower. Not to mention, with Federal Reserve Chair Powell reiterating the central bank’s uber-accomodative ... (full story)