The Old Rules Are Dead: Why Gold Is Rising Even as Rates Soar (And Why You Need to Pay Attention)

Let me put this in plain English: the old playbook for understanding gold is obsolete. For decades, economists told us gold prices would fall whenever real interest rates went up. The logic sounded tidy—if you can earn more by parking your cash in Treasuries, why bother with gold, which doesn’t spit out interest? But here we are in 2025, and that relationship has cracked wide open. Even as the Federal Reserve and other central banks have hiked rates aggressively to cool off post-pandemic inflation, gold has refused to buckle. Instead, it’s climbing. What’s changed? A lot more than the media wants to admit. According to Joseph Wu over at RBC Wealth Management, gold is going through what he calls a…