They warned that the dollar would lose its value, and that gold would continue to increase in price. Which turned out to be exactly the case, and on Tuesday the gold price finally broke above the historic $2,000 per ounce level.
There is good gold demand in India and in my view all over Asia today (considering historically high prices) as well as yesterday. People who did not buy gold at $1800 or $1950 were seen buying physical gold, physical silver and gold/silver jewelry.
The real yield on 10-year Treasuries closed at its lowest level ever of negative 0.9277 percent on Tuesday. This greatly boosts gold’s appeal since it does not offer interest like government bonds usually do.