The balance of power between the world's two dominant safe-haven asset classes is shifting once again — and this time, the reversal is as dramatic as it is swift. For the better part of the past year, precious metals held the undisputed upper hand. Gold notched roughly 50 consecutive record highs while U.S. Treasuries sat largely overlooked, their traditional safe-haven allure eclipsed by a metal on an historic run. That dynamic underwent a complete reversal at the start of March, when a U.S. strike on Iranian territory triggered a cascade of forced liquidations and a violent flight to dollar liquidity. Gold, despite ... (full story)