The best window to buy gold since early March is wide open right now – meaning this is the time to take decisive action. The gold bulls have found themselves corralled in by rising U.S. Treasury bond yields and a stronger dollar, with the pressure pushing gold prices to around £1,509 ($1,830).
We haven’t seen these prices for the last seven months, creating an incredibly compelling reason to snap up the precious metal while the opportunity to but the dip remains on the table.
The 10-year Treasury yield matched its 2007 high yesterday (Tuesday) however, this surge comes with its own problems, and could be foreshadowing more serious issues coming down the line. Economist Ed Yardeni explains, “The worry is that the escalating federal budget deficit will create more supply of bonds than demand can meet, requiring higher yields to clear the market; that worry has been the Bond Vigilantes’ entrance cue… We are still counting on moderating inflation to stop the beatings in the bond market.”
With ongoing dollar and yield strength not certain, don’t miss your opportunity to acquire gold at today’s highly favourable prices. Buy now.
