As inflation-adjusted rates soared this year to the highest since the financial crisis, bullion has barely blinked. Real yields - measured by the 10-year Treasury inflation-protected securities, or TIPS, - jumped again on Thursday to the highest since 2009, while spot gold nudged down a mere 0.5 per cent the same day. The last time real rates were this high, gold was about half the price.
Afra Mubarak Al Nofeli/Gulf News