Gold Near Five-Month High, Stocks Struggle as Treasury Yields Linger Near 5%

U.S. Treasury yields are alarmingly approaching 5% because of unexpected U.S. economic growth, causing global shares to plummet. Persistent recession warnings since 2022 have been overshadowed by wage surges, resulting in reckless consumer spending. This economic illusion has unnerved the bond market, leading to significant sell-offs. Quincy Krosby of LPL Financial warns of potential hastened Fed interest rate hikes to combat spiraling inflation. Major U.S. stock indices suffered sharp declines, further emphasizing the reliability of gold in these turbulent times.