Why is gold holding up so well when interest rates are marching steadily higher?
Sometimes the market provides us with an interesting mystery. Right now, the mystery is why gold is holding up so well when interest rates are marching steadily higher. Gold usually moves in the opposite direction to real interest rates – that is, interest rates after deducting for the bite of inflation. When real rates go up, bullion prices go down. There are excellent reasons why this relationship has held true in the past. But no longer.
People need to understand bonds and why people need them. I'm don't believe they see the good. They just see the bad. Teach them.
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