30 year yield, the curve & Gold

It is not Treasury bonds that gold aligns with.  Sometimes it goes up and down with bonds and sometimes it goes opposite.  What gold generally stays in alignment with however, is the relationship between long term and short term bonds.  Here's the updated status, with the weekly view of the nominal 30 year yield and gold in the upper panel and yield spread in the lower panel.

It's the thing in the lower panel that should be watched closely from this point forward.

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