Gold has been rallying regardless of what interest rates have been doing. That's actually a good thing. It shows the strength of gold. If we take a look here, we can see on the top panel gold in late 2023. It rallied here, consolidated, rallied again, consolidated and rallied once again. If we take a look at the yield on the 10 year treasury note in September, it started to go down to late 2023. In this time period, gold largely went sideways. And then we saw the yield on 10 year treasury note climb all the way into September, or I should say May of 2024.(...) And in this time period, gold actually went up. And if we take a look here, we can see gold consolidating as interest rates went down. And then we saw gold actually performed very well as interest rates continue to go down and back up again.
The fact that gold has been rising regardless of what interest rates have been doing, moving up or down, is a good thing. It really shows the strength of gold.
