>>22551050Consider that the high bond yield is a reflection of the growing signs that the bond market is overvalued. Gold is the biggest competitor of US Treasuries. US Treasuries guarantee you a "return free risk", as in, a yield that is significantly below the devaluation of the dollar. The US Treasury market is one of the most crowded and overvalued markets in the world. Gold is quite cheap by comparison.
Gold is still underowned and people still don't care about gold despite gold making repeated new nominal highs throughout 2024 and 2025. Expect the trend to stay in force, and expect people to start caring as the bull market in gold progresses.
