Gold futures reverse early gains as high Treasury yields pressure market. - CME Group
Gold futures reverse early gains as high Treasury yields pressure market. - CME Group
Source: CME Group
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DW NOTE
Gold is down 21.6% from its January high while 10-year real yields sit at 2.70% — the highest since 2009. The metal spent a decade trading as a hedge against money-printing; now it's trading as a zero-coupon bond with storage costs. When Treasuries pay 2.70% over inflation, gold doesn't hedge anything except the fees of the dealers selling it.