Gold Is Sending Markets a Big Warning Signal
It has been a far different story for industrial metals such as copper, aluminum, and zinc. “The highest-ever gold price vs. the Bloomberg Industrial Metals Spot Subindex at the end of May, based on our database going back to 1991, isn’t a good sign for the global economy,” he wrote. U.S. stock prices remain high, and yields on Treasury bonds have been rising recently, not falling, as one would expect if nervous investors were dumping risky assets and buying the debt in a flight to safety.