Save US Real Interest Rate & Gold Price
Real interest rate has a negative correlation with gold price.
Real interest rate = US 10-year bond yield - 5-Year, 5-Year Forward Inflation Expectation Rate
When the inflation % outgrows the interest rate raise, real interest rate declines and gold price rises. (Gold is more inflation-protected.)
When the deflation % is bigger than the interest rate cut, real interest rate rises and gold price declines. (Gold becomes less inflation-protected.)
US Real Interest Rate (L)0.00
Gold Futures Price (R)2021-10-271,798.25