Real Yields Have Driven Gold for Two Decades, PIMCO Says - Briefs Finance
Real Yields Have Driven Gold for Two Decades, PIMCO Says - Briefs Finance
Source: Briefs Finance
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DW NOTE
PIMCO's two-decade hindsight is correct but arrives late to matter. Real yields sat negative for most of 2021-2023 while gold consolidated sideways. Now 10-year TIPS yields are positive 2%+, gold has fallen 24% from its January high of $5,318, and the Fed hasn't cut once. The correlation held — but only investors who acted on it six months ago kept their capital.