The vast majority of the financial world is ignoring Powell. The continually steepening inversion of the Treasury yield curve and insatiable demand for long term Treasuries over short term ones proves that. Everyone expects rates to come down. They are trying to lock in today's high rates for the next decade. If they thought they could get the currently higher yielding short term bonds, and still get the 10 year bonds later when those expire, they wouldn't be taking a big haircut now to get the 10 year.
Interest rates are going to come down, Powell's jawboning not withstanding. Remains to be seen what gold will do when that happens.
The vast majority of the financial world is ignoring Powell. The continually steepening inversion of the Treasury yield curve and insatiable demand for long term Treasuries over short term ones proves that. Everyone expects rates to come down. They are trying to lock in today's high rates for the next decade. If they thought they could get the currently higher yielding short term bonds, and still get the 10 year bonds later when those expire, they wouldn't be taking a big haircut now to get the 10 year.
Interest rates are going to come down, Powell's jawboning not withstanding. Remains to be seen what gold will do when that happens.