Beaver Creek: Gold’s bond break puts juniors in play

AI desk brief

Gold’s long-standing inverse link to real yields has broken down, with panelists at Beaver Creek arguing bullion is regaining a monetary role as trust in bonds weakens. Front-month COMEX gold settled Sept. 24 at $4,263/oz, still 20% below its Jan. 29 record $5,318.40, while the nominal 10-year Treasury yield hit 5.2%, its highest since 2007. Since March 2022, gold and five-year real Treasury yields have risen together, a shift speakers linked to Western reserve freezes and central-bank demand as a “Plan B” outside the U.S.-led system.