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Gold Rises Higher with Rates Dropping
Given enough time, I think that the gold markets continue to follow bonds and rates. Gold has rallied during the trading session on Friday as interest rates have plummeted. This is directly related to the Middle East conflict and the fact that the Iranians have now said that as long as the ceasefire is in effect, the Strait of Hormuz will be open for all traffic. This of course has people hoping that we are in fact going to see some type of resolution to the conflict and therefore bonds just dropped rates rather aggressively. This helps gold obviously because gold is a non-yielding asset, so therefore people look at ... (full story)