US10 year yields steepen against the 2-year yield as short-term expectations are crushed by and low-interest rates but medium-term risks are starting to show their presence in the cost of , materials, and rising wages. The Fed is adamant that the current signs of will be transitory and as the base effects from last year fall out of the year-on-year data readings the inflationary pressures will ease.
Gold producers on the report had trimmed their short positions from the beginning of 2021 until April but have started selling more again as the price of Gold bounced off $1700, which make me feel that the range between $1700 to $1900 is here to stay for a while longer.
One way to try and capitalise on the price of Gold without the need for it to break $2k necessarily is to invest in a Royalty or Streaming company. With prices for mining output already set, the Royalty companies can still make money even when the gold price is falling. They don't operate mines themselves, and so the huge infrastructure and operating costs do not fall to them.