I don’t think gold will become the new monetary anchor. Gold is just comparatively a slightly safer option to hold in times of uncertainty and also tend to offer greater returns than treasuries in such times. I see it mainly as a business decision rather than a true change of conviction. Treasuries yield in recent years have been disappointing and probably is a useless asset in terms of returns. However, once there is greater clarity, I believe banks will take profit and rotate to treasuries.
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