For years, the market rule was simple: when yields rose, gold fell. That logic is breaking down. With U.S. Treasury yields hovering near 4,0 % and gold trading above 4 000 $, investors are questioning what “safe” really means. Bonds still hedge cyclical weakness, but fiscal concerns and record issuance have made them less of a comfort zone. Gold, meanwhile, keeps attracting flows from central banks and institutions seeking credibility rather than yield. This shift isn’t just about price, it’s structural: the inverse correlation between gold and yields has nearly disappeared. The two assets now move in tandem, ... (full story)