Risk aversion surrounding the conflict between Israel and Hamas continues to power the gold price higher, more than offsetting higher real yields and a stronger US dollar, two well-known adversaries for now. Soaring US real 10-year yields would normally hammer gold Just look at how fast US 10-year real yields have risen, reflecting the yield differential between nominal Treasuries and inflation-protected securities for the same tenor. For an asset offering no yield, and with holding costs if you choose to hold physical bullion, gold has held up remarkably well in what would normally be regarded as an incredibly tough ... (full story)