VGLT - Real Yields And The Price Of Gold

• For most commodities, like copper, or oil, or turkeys, we would default to supply and demand analysis or dig into the factors affecting their cost of production to explain their changes in prices over time.
• Gold falls into a different category that doesn't fit well into that basic mold. Aside from its use in jewelry, it's not used in great quantity to support any industrial applications like nearly all other metals are.
• It's just that the demand for gold works quite a bit differently than it does for other commodities given its primary use as a hedge for negative real yields in today's financial applications.

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