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OPYGY - With Yields Sinking Everywhere Gold Just Hit New All-Time Highs
PJSC Polyus ADR
“It is no longer absurd to think that the nominal yield on U.S. Treasury securities could go negative,” Joachim Fels, PIMCO’s global economic advisor, warned investors last week. “Whenever the world economy next goes into hibernation, U.S. Treasuries - which many investors view as the ultimate ‘safe haven’ apart from gold - may be no exception to the negative yield phenomenon.”
Fels does not seem to be the only investor with this idea, judging by the increased demand for gold.
The price of the yellow metal had its best week in nearly two months as