Gold prices have crossed above JPY 200,000 for the first time since 1980.
At press time, XAU/JPY is trading at 200,900, having hit a high of 202,852 on Thursday. Prices are up 3.6% on a week-to-date basis and nearly 22% on a year-to-date basis. Japanese Yen gold prices came within 1.2% of January 1980's record top on Thursday, according to bullionvault.com.
Meanwhile, in the US dollar terms, the yellow metal has gained over 24% this year.
The relentless rally in gold, a zero-yield inflation hedge, could be associated with the negative real or inflation-adjusted yield on the government bonds in the US and across the advanced world. The yield on the US 10-year real treasury note fell to a record low of -0.93% on Thursday.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now