After encountering resistance last week, gold has since reversed lower and may continue to fall as Treasury yields rise. With the US10y Treasury yield breaching 1.3% for the first time since late February 2020 earlier this week, investors are faced with rising risk-free rates. As gold has no inherent yield, gaining exposure to US government bonds becomes an attractive prospect for many investors as Treasury yields rise amid reflation hopes. {chart} The negative correlation between the two assets is easily visible and it suggests as long as Treasury yields continue to rise, gold may suffer. With that in mind, the ... (full story)