ON JULY 29TH the price of gold surged to an all-time high, as the dollar fell to its lowest level against the euro in nearly two years. Yields on ten-year Treasuries have stayed low, on fears of a rocky economic recovery, even as expectations of inflation have risen. That has depressed real yields, making dollar assets less attractive and adding to gold’s lustre.

This article appeared in the Finance & economics section of the print edition under the headline “The price of gold surges to an all-time high”

Via The Economist

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