- Central banks are tightening, the global commodities shock is intensifying, and over the first few days of April the 2/10 treasury yield curve – i.e., the spread between the U.S. 2-year and 10-year treasury yields – turned negative.
- The March U.S. Consumer Price Index rose 8.5% and the Producer Price Index surged 11.2%, the most on record.
- While we believe gold prices are heading higher, until the U.S. dollar trends lower, gold may not see the spectacular gains of past secular bull markets.
For further details see:
Strong Dollar Grounds Gold Despite Soaring Inflation