Traditional safe-haven triangle imbalance: gold buying surges, while U.S. Treasuries and the dollar are neglected.

Jin10 data reported on April 9, precious metal analyst Jake Smith pointed out that as gold continues to be supported by strong buying, precious metal traders are still following the trends of U.S. Treasuries and the U.S. dollar. However, during this trading session, neither of these has shown signs of safe-haven inflow, a peculiar phenomenon that has drawn market attention. In particular, the fluctuation in the U.S. Treasury market is noteworthy—yields are rising, and prices are falling. Generally, a rise in U.S. Treasury yields is unfavourable for gold since gold itself does not generate interest income. Now, the market’s changing attitude toward U.S. Treasury investments and the underlying reasons driving this round of fluctuations have become the focal point of high interest from all parties.