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Gold Price Plummets as Treasury Yields Soar. Where to Next for Gold?
Gold suffered another considerable decline late this week, adding to the string of defeats in recent months as US Treasury yields continue to rise. The weakness in gold price is not entirely unsurprising as we noted the negative correlation between gold and US Treasury yields in our last gold update. Critically , US Treasury yields , in particular the US 10 year Treasury yield , briefly broke above 1.6% Thursday which marked its highest point since mid-February 2020. Gold Price Chart Overlaid with US 10 Year Treasury Yield (January 2020 – February 2021) Chart created in TradingView Th e rapid climb in yields has ... (full story)
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