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Van Eck/Joe Foster/3-9-2020
“As markets gyrate, gold investors must not lose sight of the bigger picture. For over a year the primary driver of the gold price has been falling real rates. Through the coronavirus crash, ten-year treasury yields have plummeted to all-time lows. With the markets in disarray, gold has not responded to this fall in real rates. Once the volatility subsides, we expect real rates to again become a primary driver of gold prices.”
USAGOLD note: Van Eck’s Joe Foster looks beyond the virus to identify what is really driving gold prices now and over the longer run.