Project Prophesy Model For Gold Points Higher
Yields on the 10-year U.S. Treasury note are drifting lower on heightening fears of a double-dip recession. That’s a tailwind for gold. As we move into 2021, inflation is likely to surprise to the downside due to lockdowns, low money velocity and stress in the credit market. But we doubt this trend will hurt gold because investors in these markets expect that the worse deflation gets in the short-term, the more fiscal and monetary reaction we will see.
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