Before 2022 when real 10yr treasury yields rates went down, gold went up. Something changed in 2022. Since 2022, rates up, gold up up up. In 2022 Russian launched an invasion of Ukraine and the U.S. used unprecedented sanctioning power to freeze over 300 billion in Russian owned U.S. Treasuries. These things are related. When you undermine property rights neutrality you lose your position as global reserve asset. No one wants to hold an asset that can be insta-deleted by the U.S.(RYAN SΞAN ADAMS - rsa.eth 🦄)