Rising bond yields and a stronger US dollar are usually a toxic mix for gold, creating headwinds from both a relative return and currency basis. But not this year. Rather, gold has been moving in the same direction as US dollar and benchmark 10-year bond US bond yields often over the past month, hitting record high after record high despite markets paring 2024 US rate cut expectations from seven to less than two in the space of four months. The unusual positive relationship between gold and US dollar index and 10-year US bond yields is evident in the correlation coefficient analysis below with scores of 0.67 and 0.92 ... (full story)