Now is the time to buy gold; BCA sees bullish opportunity as real yields peak - KITCO
Now is the time to buy gold; BCA sees bullish opportunity as real yields peak - KITCO
Source: KITCO
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DW NOTE
BCA's "real yields peak" thesis assumes terminal rates. The Fed holds 3.5%-3.75% against 3.53% headline CPI and 5.51% PPI — both well above target — while running a 6% fiscal deficit. Gold is down 19% from its January high precisely because real yields haven't peaked; they've compressed from negative to barely positive while the denominator keeps printing.