Gold Gets a Boost of Rocket Fuel From Negative Bond Yields. What's Next for the Yellow Metal?
By GCRU Gold News on Saturday, June 22 2019, 04:34 - Permalink
After breaking out of a five-year trading range this week, the price of gold surged above $1,400 an ounce for the first time since 2013 on expectations of a U.S. rate cut. The 10-year Treasury yield fell to around 2 percent, its lowest level since November 2016. Meanwhile, the pool of negative-yielding government bonds around the world hit a fresh record high of $13 trillion.