Gold’s record highs come to an abrupt halt
The safe-haven metal is heading for its biggest drop in seven years as bond yields spike higher
11 August 2020 - 18:36
New York — The huge rally that pushed gold to record highs above $2,000 an ounce has come to an abrupt halt, with the safe-haven metal heading for its biggest drop in seven years after bond yields spiked higher.
US treasuries and European bond yields climbed, cutting into the negative real rates that had supported the metal. The 10-year US treasury yield jumped the most since June ahead of an expected flood of government and corporate debt issuance. US producer prices increased faster than expected...
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