Gold breaks a six-week range after real yields stall below recent highs
The metal is trading less like an inflation panic and more like a duration hedge with a geopolitical option attached.
Elena VasquezSenior Markets Correspondent
Open trading floor with rows of workstations at night
NEW YORK — The metal is trading less like an inflation panic and more like a duration hedge with a geopolitical option attached.
CTA flows chased the break, but the more durable bid, desks said, is still official-sector buying that does not mark to a weekly chart.
Elena Vasquez
Senior Markets Correspondent
Covers Treasuries, the dollar, and the policy signals that reprice risk assets.