The Big Picture: When the Usual Rules Break We’ve always been told that when Treasury yields go up, gold goes down. After all, why would you want to hold a hunk of metal that pays you nothing when you can park your cash in bonds and rake in some yield? But here we are in May 2025, and guess what? Gold’s tearing it up—up 4% this week alone, and a jaw-dropping 25% since January! Spot prices are pushing $3,336 an ounce, with futures right on their heels. So what’s going on? Let’s break it down. The Real Safe Haven: Ditching Uncle Sam’s IOUs First up, let’s talk about fiscal chaos. The U.S. government just auctioned off another $16 billion in…
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