Gold Pushes Higher with US Yield Curve as Debt Fears Worsen - BullionVault
Gold Pushes Higher with US Yield Curve as Debt Fears Worsen - BullionVault
Source: BullionVault
―
DW NOTE
The US yield curve is steepening not because the market expects prosperity, but because it expects the Treasury to keep borrowing $1.8 trillion a year while the Fed refuses to monetize it. Gold at $4,477 is the asset markets pricing what the bond markets cannot: that a 6% deficit during expansion is a sovereign credit event in slow motion.