The move in gold over the past fortnight have tracked real rates very closely.
![](https://pbs.twimg.com/media/ES--qQeWsAA3rbA.png)
This from the FT summarises it very well.
ft.com/content/e50721… via @financialtimes
![](https://pbs.twimg.com/media/ES_BmngX0AEl_U1.png)
But once positions have been cut, a more balanced market prevailed.
"So, in my opinion we are at a crucial juncture - Central Banks have limited tools, the fiscal response has been patchy and uneven and once the true economic impact of events....
Best of luck!