After posting its biggest annual gain in a decade, bullion has endured a turbulent start to 2021. Gold’s initial advances were overturned by a surge in Treasury yields, which damped the appeal of the non-interest bearing asset. The outlook for more borrowing under the Biden administration drove rates higher, while a decline in inflation expectations caused real returns on Treasuries to rise, further hurting bullion’s appeal.
https://www.bloomberg.com/news/articles/2021-01-11/gold…
