Investors are dumping bonds globally while gold is soaring. Here's why

Surging bond yields have been making headlines for the past few days as have soaring gold prices, and while they do not have a watertight inverse relationship, higher yields usually tend to take the sheen of bullion. It appears that in the battle for safe-haven flows, gold is now emerging victorious as investors rethink their traditional safe haven playbook, with analysts pointing to growing investor concerns over the direction of fiscal and monetary policies in key economies. In the U.S., the 30-year Treasury yield went past 5% on Wednesday for the first time since July, while Japan's 30-year government bond yield hit a record high, up 100 basis points this year amid persistent inflation, negative real rates, and political instability. In the U.K., 30-year bond yields climbed to their hig