by Alasdair MacLeod
Gold Money
Following the recent sell-off gold and silver rallied this week, with gold trading at $1957 in European trade this morning, up $36 since last Friday, and silver was at $25.67, up 75 cents on the same timescale. Trading on Comex was subdued in both metals, picking up somewhat yesterday.
There are significant developments in markets generally. US Treasury bond yields have begun to soar, as our next chart shows.
[…] So far, soaring bond yields have yet to materially undermine equities, which are probably still seen as an inflation refuge. But in currencies, the yen is being destabilised.