The market is anticipating a replay of last year’s divergence between the yield spread and gold.
Even though the usual patterns seemed to stabilize in 2026, gold is rising again as the spread expands.
What’s behind this shift? Fiscal policy.
Spikes in fiscal uncertainty can break established correlations, letting gold temporarily shrug off changes in the yield spread.
✅@futures
Ebisa Tech
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1August 25, 2026 2.7K 1
