Why Gold Stocks Were Soaring Today
Gold stocks were on the march today, riding a broad relief rally as stock prices rose and Treasury yields crashed with the yield on the 10-Year Treasury Note down 5.6% in afternoon trading. Asset prices climbed across the board.
Bond prices rise when yields drop, while stocks, cryptocurrencies, commodities including oil, and precious metals like gold were all higher.
There was no obvious trigger for the movement, though the most likely reason seems to be the Bank of England's decision to buy long-dated U.K. government bonds in order to stabilize the pound after the currency had fallen sharply against the dollar in recent weeks.
Source Fool.com
